Nippon Paint submitted a €7.5 billion offer to acquire AkzoNobel's decorative paints business, but AkzoNobel rejected the bid as undervalued and recommended a merger with Axalta instead.
AkzoNobel has rejected Nippon Paint’s €7.5 billion offer for its decorative paints business, citing undervaluation. The company reaffirmed its unanimous recommendation for the merger with Axalta Coati
European shares declined amid US-Iran tensions threatening the Strait of Hormuz, driving oil prices up 4%. Additionally, chemical firm AkzoNobel gained 3% after receiving a €7.5 billion takeover offer
AkzoNobel confirmed Nippon Paint's bids for its Decorative Paints business but rejected the €7.5 billion valuation as undervalued, preferring its $25 billion merger with Axalta Coating Systems.
Nippon Paint reportedly offered approximately $8.6 billion for Akzo Nobel's decorative paints unit, though management has not engaged. This follows a failed joint acquisition attempt with Sherwin-Will
Nippon Paint and Sherwin-Williams have withdrawn their joint €12.5 billion cash offer to acquire AkzoNobel, which had previously rejected the proposal. Following the announcement, AkzoNobel's stock dr
ChemBrief