AkzoNobel Confirms $30 Billion Axalta Merger Talks

0
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.

Exclusive: Dan Loeb’s Two New Stock Picks [Q1 Letter]

Nestle Dan Loeb Daniel Loeb third point capital hedge fund manager activist investor poison pen activism Yahoo corporate governance famous investorsThird Point's Dan Loeb discusses their new positions in a letter to investor reviewed by ValueWalk. Stay tuned for more coverage. Loeb notes some new purchases as follows: Third Point’s investment in Grab is an excellent example of our ability to “lifecycle invest” by being a thought and financial partner from growth capital stages to 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