Volume 95 Issue 11 | p. 12 | News of The Week
Issue Date: March 13, 2017 | Web Date: March 9, 2017

Rejecting PPG bid, AkzoNobel will exit chemicals

Proposed merger is latest consolidation move for industry
Department: Business
Keywords: coatings, paints, specialty chemicals, AkzoNobel, PPG

AkzoNobel has rejected an unsolicited takeover offer from PPG Industries and says it will instead embark on a program to separate its specialty chemical business from its main business in paints and coatings.

PPG privately proposed on March 2 to acquire AkzoNobel in a deal that would value the Dutch company at about $22 billion. AkzoNobel says it rejected the proposal as not in the interests of its stakeholders.

PPG says it will consider its . . .

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