AkzoNobel Confirms $30 Billion Axalta Merger Talks

AkzoNobel Confirms $30 Billion Axalta Merger Talks

AkzoNobel has confirmed it is in talks with US rival Axalta regarding a potential $30 billion merger.

Get Our Activist Investing Case Study!

Get the entire 10-part series on our in-depth study on activist investing in PDF. Save it to your desktop, read it on your tablet, or print it out to read anywhere! Sign up below!

The Dutch company, which makes paint brands such as Dulux, has also said that the discussions would not affect the spinoff of its specialty chemicals unit. The sale of the arm—which could reportedly be valued at up to €9 billion—is on track to be completed by April, with the majority of the proceeds earmarked for company shareholders.

David Einhorn At The 2021 Sohn Investment Conference: Buy These Copper Plays

david einhorn, reading, valuewalk, internet, investment research, Greenlight Capital, hedge funds, Greenlight Masters, famous hedge fund owners, big value investors, websites, books, reading financials, investment analysis, shortselling, investment conferences, shorting, short biasThere's a gold rush coming as electric vehicle manufacturers fight for market share, proclaimed David Einhorn at this year's 2021 Sohn Investment Conference. Check out our coverage of the 2021 Sohn Investment Conference here. Q1 2021 hedge fund letters, conferences and more SORRY! This content is exclusively for paying members. SIGN UP HERE If you Read More

AkzoNobel drew criticism from institutional shareholders earlier this year after refusing to negotiate with PPG Industries following the US company's $29 billion takeover bid.

During that battle, activist investor Elliott Management unsuccessfully tried to oust the company’s chairman and push through the tie-up. Dutch takeover laws now prevent PPG from launching another attempt until December.

Axalta, which specialises in car and auto refinish paints, was sold by DuPont to The Carlyle Group in 2013, which listed the business a year later.

Article by PitchBook

No posts to display