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Business

PPG prods AkzoNobel

by Alex Scott
April 10, 2017 | APPEARED IN VOLUME 95, ISSUE 15

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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