Sept 1 Akzo Nobel NV Chief Executive
Ton Buechner has been solicited for a deal to buy car paint
coatings company Axalta Coating Systems for more than
$7 billion, Bloomberg reported citing people familiar with the
Amsterdam-based Akzo Nobel and U.S. rival Sherwin-Williams
Co are among the possible buyers, although Akzo hasn't
indicated whether it will pursue Axalta, Bloomberg reported. (bloom.bg/1nQ7cYQ)
Axalta, bought by The Carlyle Group LP from Du Pont
Co in 2013 for $4.9 billion, filed for an initial public
offering last month that could raise as much as $1 billion.
"We do know about the business and we've heard of the IPO,
but that's all there is to say," said Akzo Nobel spokeswoman
Diana Abrahams, according to the Bloomberg report.
Akzo Nobel, Axalta Coating and Carlyle Group could not be
immediately reached for comment outside regular business hours.
Philadelphia-based Axalta makes liquid and powder coatings
for the automotive and general transportation industries. It
operates 35 manufacturing centers and does business in more than
(Reporting by Ankush Sharma in Bangalore; Editing by Diane