AkzoNobel, Axalta end merger talks

For the second time this year, AkzoNobel has halted a merger with another paint maker. The Dutch company broke off merger talks with Axalta Coatings Systems, the former coatings business of DuPont, after Axalta received a competing offer from Japan’s Nippon Paint. AkzoNobel’s coatings sales are about $10 billion per year; Axalta’s are $4 billion. AkzoNobel says it still plans to separate its chemicals business. Earlier this year, it fought off a takeover attempt by U.S. rival PPG Industries. PPG walked away in June, but under Dutch law, it may again bid for AkzoNobel next month.