AkzoNobel targets Axalta

AkzoNobel is likely to be targeting competitor Axalta Coating Systems, Dutch daily Het Financieele Dagblad reported. Allegedly, the drugmakers have not started talks yet, but they are close, the daily added. PPG some days ago made an offer to acquire AkzoNobel, which immediately rejected it. The acquisition of Axalta could be included in AkzoNobel’s strategy, aimed at protecting itself from PPG and remaining independent. Axalta employs 13,000 staff globally and has annual revenues of about $4bn. (Source: Het Financieele Dagblad)