In advance of submitting official registration documents for its intended merger with the US company Axalta, Dutch coatings leader AkzoNobel has revealed that it has received\u2014and swiftly turned down\u2014two joint counter-offers from Sherwin-Williams and Nippon Paint. The more lucrative of these, which was declined on May 1, proposed \u20ac73 in cash for each AkzoNobel share, amounting to about \u20ac13 billion (\u00a311 billion).<\/p>\n
According to the proposal from Nippon and Sherwin-Williams, AkzoNobel would be dismantled, with its various divisions distributed between the two entities. Nippon would keep AkzoNobel\u2019s decorative paints and industrial coatings, while Sherwin-Williams would acquire its automotive & specialty, marine & protective, and powder coatings divisions. AkzoNobel\u2019s boards determined that the proposed price significantly undervalued the firm and expressed concerns regarding the likelihood of obtaining approval from competition regulators. Consequently, the company reaffirmed its dedication to its ongoing merger plan with Axalta.<\/p>\n
The paints and coatings industry is experiencing a wave of consolidation, as major players aim to expand through acquisitions. The AkzoNobel\u2013Axalta merger will establish a formidable competitor to Sherwin-Williams, Nippon, and PPG Industries.<\/p>\n","protected":false},"excerpt":{"rendered":"
In advance of submitting official registration documents for its intended merger with the US company Axalta, Dutch coatings leader AkzoNobel has revealed that it has received\u2014and swiftly turned down\u2014two joint counter-offers from Sherwin-Williams and Nippon Paint. The more lucrative of these, which was declined on May 1, proposed \u20ac73 in cash for each AkzoNobel share, […]<\/p>\n","protected":false},"author":2,"featured_media":372808,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[174],"class_list":["post-372807","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-source-chemistryworld-com"],"_links":{"self":[{"href":"https:\/\/wolfscientific.com\/index.php?rest_route=\/wp\/v2\/posts\/372807","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wolfscientific.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wolfscientific.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wolfscientific.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/wolfscientific.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=372807"}],"version-history":[{"count":0,"href":"https:\/\/wolfscientific.com\/index.php?rest_route=\/wp\/v2\/posts\/372807\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wolfscientific.com\/index.php?rest_route=\/wp\/v2\/media\/372808"}],"wp:attachment":[{"href":"https:\/\/wolfscientific.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=372807"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wolfscientific.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=372807"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wolfscientific.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=372807"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}