Volume 95 Issue 17 | p. 9 | News of The Week
Issue Date: April 24, 2017 | Web Date: April 19, 2017

AkzoNobel to exit chemicals within 12 months

CEO calls divestment plan superior to PPG’s takeover offer
Department: Business
Keywords: Business, PPG, divest, IPO, floatation, AkzoNobel

AkzoNobel says it will divest its chemicals business within the next 12 months. The move will return more money to shareholders than would accepting an unwanted takeover offer from PPG Industries, AkzoNobel’s CEO Ton Büchner told analysts at a London briefing earlier today.

AkzoNobel says it will either float shares of its chemicals business on the stock market or sell the business as a whole to another company. Analysts estimate that it will fetch between . . .

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