PPG prods AkzoNobel | Chemical & Engineering News
Volume 95 Issue 15 | p. 14 | Concentrates
Issue Date: April 10, 2017

PPG prods AkzoNobel

Department: Business
Keywords: mergers & acquisitions, AkzoNobel, PPG

PPG Industries just won’t take no for an answer. The U.S. paint firm is pleading with acquisition target AkzoNobel to at least meet and talk after AkzoNobel CEO Ton Büchner posted a rejection video. In late March, PPG offered to buy AkzoNobel for $26.3 billion, up from a March 2 bid of $22.0 billion. Despite getting the cold shoulder twice, PPG maintains that combining the two firms “has a strong strategic rationale and presents a highly compelling and unique opportunity.” AkzoNobel says it continues to be undervalued by PPG.

 
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