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.
Third 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
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.
Article by PitchBook