Akzo Nobel: latest news - GoINPHARMA
Wednesday, 17 October 2018 - 2:07

Akzo Nobel

AkzoNobel and Axalta resume merger talks

Dutch daily De Financieele Telegraaf today has reported that Akzo Nobel and Axalta Coating Systems are in talks for a merger again. The newspaper has quoted a statement by Akzo’s chairman Antony Burgmans on the issue. The talks between the…

AkzoNobel confirms ongoing talks with Axalta

AkzoNobel today confirmed in a press release it has talks underway with competitor Axalta Coating, aimed at a merger of equals between the two coating giants. The merger would result in lower prices for raw materials, which would generate significant…

$20bn Clariant-Huntsman merger dismissed

Clariant and Huntsman this morning announced in a joint statement that they have dismissed their planned $20bn merger of equals. The decision reflects the tremendous pressure that some investors are putting on Clariant, including the White Tale Holdings fund, which…

AkzoNobel seeks acquisitions after narrow escape from PPG

Economic-financial daily Het Financieele reported a statement by Ton Büchner,stating that AkzoNobel, after rejecting PPG’s attack, is seeking an organic growth, but also acquisitions. The group has enough cash for small-scale acquisitions, Büchner added. AkzoNobel had already disclosed its plan…

It’s official: PPG renounces to AkzoNobel. $130bn merger failed

In a press release issued today before European stock markets opened, PPG announced it renounced to pursue the €26.9bn acquisition of Netherlands-based AkzoNobel. Over the last months, PPG had submitted as many as three bids to AkzoNobel’s board, with the…

PPG not starting hostile takeover of AkzoNobel

PPG industries is apparently planning to continue talks with AkzoNobel’s board in order to acquire the Netherlands-based group, Dutch economic and financial daily Het Financieele Dagblad reported today. An Amsterdam commercial court yesterday ruled in favor of AkzoNobel’s board and…

Sparring match between AkzoNobel and PPG following €26.9bn third bid

AkzoNobel today announced it refused the third acquisition bid by competitor PPG, which this time offered €26.8bn. AkzoNobel’s release was closely followed by a release by PPG, expressing disappointment for the negative response and remarking that the board ignores the…

AkzoNobel rejects even new bid by PPG, worth €26.8bn

AkzoNobel’s board rejected even the latest – third – bid submitted by PPG on April 24, claiming that neither does this new acquisition proposal by the Dutch group reflect the company’s potential. PPG offered €96.75 per share, a significant increase…

AkzoNobel announces new strategy and PPG keeps urging merger

AkzoNobel CEO announced yesterday first-quarter results. Sales increased by 7% (€3.6bn) and margins improved by 10.3%. The management also announced €1bn special dividends. Besides, Ton Büchner took the opportunity to disclose the details of the new strategy expected to ensure…

AkzoNobel resists attacks by PPG

The financial community holds high expectation about the update Ton Büchner, Akzo Nobel CEO, will give investors later this week. On the occasion, the Dutch manager will present his strategy, aimed at ensuring growth while staying independent – which implies…

PPG, AkzoNobel CEOs hold extremely different views

Dutch TV channel RTL Z compared two recent interviews to PPG and AkzoNobel CEOs, clearly showing that the two Chief Executives hold extremely different views about the US-based company acquiring Akzo. According to McGarry, PPG CEO, the two groups are…

Growing pressure on AkzoNobel’s board to start talks with PPG

An increasing number of shareholders in Akzo Nobel is urging CEO Ton Büchner to enter into talks with PPG, which is targeting the Netherlands-based group. After Akzo Nobel rejected the second, €22.4bn bid, investor Causeway Capital, owning 7% of the…

AkzoNobel rejects second bid by PPG, worth €22.4bn

kzoNobel’s management announced this morning on a press release it has rejected the second takeover bid received by PPG. The Dutch group’s board added that not only does not the proposal reflect the actual value of AkzoNobel, it also neglects…

AkzoNobel seeks new acquisitions to resist PPG

AkzoNobel is reportedly exploring both carrying out a large acquisition, and acquiring small companies in the coating industry. The news was reported by the Dutch daily De Telegraaf, which reminded that AkzoNobel had announced some days ago it planned to…

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…

Here is how Akzo Nobel can resist PPG takeover attempt

Akzo Nobel does have the tools to resist the takeover attempt by US-based PPG. For instance, the Foundation Akzo Nobel has priority shares which entitle it to choose the group’s board and controlling body members. Therefore, in case of takeover,…

PPG doesn’t give up and prepares new bid for Akzo Nobel

PPG is preparing a new offer to acquire Netherlands-based Akzo Nobel, Dutch economic and financial daily Het Financieele Dagblad reports. Akzo Nobel announced two days ago that PPG had offered €83 per share, which corresponds to valuing the group at…

AkzoNobel rejects takeover attempt by PPG (€20.9bn)

Dutch chemical multinational Akzo Nobel rejected a first takeover attempt by US-based PPG, which offered €20.9bn, corresponding to €83 per share, a premium 29% over yesterday’s closing price. It is not clear at the moment whether PPG adopted a hostile…

Akzo not to sell Specialty Chemicals segment

Netherlands-based chemical group AkzoNobel will not sell its Specialty Chemicals business unit, denying sale rumors which have been circulating for a long time now. In so doing, Akzo confirms its strategy to remain a manufacturer of chemicals, but also paints…