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Akzo Nobel NV (AKZO.AS)

AKZO.AS on Amsterdam Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Akzo Nobel Q1 EBIT beats Reuters poll
Wednesday, 19 Apr 2017 01:01am EDT 

April 19 (Reuters) - Akzo Nobel Nv :Akzo Nobel reports record profitability in Q1 2017.Q1 net income attributable to shareholders 240 million euros ($257.26 million) vs 240 million euros year ago.Q1 revenue 3.66 billion euros vs 3.58 billion euros in Reuters poll.Q1 EBIT 376 million euros vs 334 million euros year ago.Q1 EBIT 337 million euros in Reuters poll.EBIT for 2017 is expected to be around 100 million euros.Continues to anticipate positive developments for EMEA, North America and Asia, improving during year, while Latam is expected to stabilize.Strategy update including further details of proposed separation of specialty chemicals will follow at 08.00 CET.  Full Article

PPG: not wrong to talk to disgruntled AkzoNobel shareholders
Wednesday, 12 Apr 2017 09:13am EDT 

Akzo Nobel Nv : PPG: has met with nearly 100 AkzoNobel shareholders after making takeover proposal. . PPG: Akzo shareholders are "near unanimous" in disappointment at management's lack of concern for them. . PPG: never informed any Akzo shareholders of intentions to make takeover proposals ahead of time. . PPG: has always complied with all laws and rules in communications with Akzo shareholders. . PPG: invites AkzoNobel to talk "with us rather than about us" in interest of Akzo's stakeholders. .PPG: has no agreement or arrangements "in whatever form" with Akzo shareholder Elliott Advisors..  Full Article

Elliott calls for Akzo chairman's removal for alleged failures
Wednesday, 12 Apr 2017 03:24am EDT 

Akzo Nobel NV : Elliott Advisors: Akzo boards acting in a "self-entrenching and obstructive manner". . Elliott Advisors: Akzo Nobel boards "failed" in duties to shareholders and other stakeholders. . Elliott Advisors: Akzo Nobel shareholders representing 10 percent stake are acting together only to call EGM (extraordinary shareholders meeting). . Elliott Advisors: EGM must be held within 8 weeks under Dutch law. . Elliott Advisors: shareholders have made clear they lack confidence in boards' course of action. .Elliott Advisors: shareholders hold Chairman Burgmans responsible because he has duty to oversee management board..  Full Article

Akzo Nobel has received a request to hold an EGM to dismiss chairman
Wednesday, 12 Apr 2017 01:01am EDT 

Akzo Nobel NV : Has received a request to hold an Extraordinary General Meeting (EGM) to dismiss Antony Burgmans as Chairman of Supervisory Board . Request was received from a number of shareholders led by Elliott Advisors. . In accordance with Dutch company law, board will consider proposal to hold an EGM and respond within statutory 14 days. .Supervisory board strongly supports Mr. Burgmans in his role as chairman..  Full Article

PPG makes revised proposal to combine with Akzonobel
Wednesday, 22 Mar 2017 08:09am EDT 

PPG Industries Inc : Press release - PPG makes revised proposal to combine with Akzonobel . PPG Industries Inc - proposal of eur90.00 per ordinary share of Akzonobel . PPG Industries- including assumption of net debt and minority interests, proposed transaction is valued at approximately eur24.5 billion, or $26.3 billion . PPG Industries - PPG's revised proposal reflects annual run rate synergies of at least $750 million, which could be achieved from combination of two companies . PPG Industries Inc - "PPG continues to believe that its initial proposal presented a unique and compelling value for Akzonobel and its shareholders" . PPG Industries Inc - "PPG remains willing to meet with Akzonobel" . Revised proposal is comprised of cash of eur57.50 and 0.331 share of PPG common stock .PPG - submitted proposal to boards of Akzonobel to combine their respective businesses by way of public offer for all ordinary shares of Akzonobel.  Full Article

Akzo Nobel rejects second unsolicited proposal from PPG
Wednesday, 22 Mar 2017 03:59am EDT 

Akzo Nobel NV : Rejects second unsolicited proposal from PPG Industries Inc . Proposal fails to recognise value of CO and neglects to address significant risks and uncertainties, including extensive anti-trust concerns . Proposal does not address concerns expressed by boards in their initial rejection of March 9, 2017 . Revised proposal represents a value of 88.72 euros ($95.84)(adjusted for final dividend) consisting of 56.22 euros(adjusted for final dividend) in cash and 0.331 PPG shares . Revised proposal will lead to significant job cuts. It includes synergies which can be expected to result in restructuring of combined employee base, leading to job losses .Management Board and Supervisory Board of CO, together with their financial and legal advisors, have thoroughly reviewed second proposal.  Full Article

Akzo Nobel rejects PPG takeover bid
Thursday, 9 Mar 2017 01:42am EST 

Akzo Nobel NV : Announces today a review of strategic options for separation of its specialty chemicals business . Boards have unanimously ‎concluded that PPG proposal substantially undervalues Akzo Nobel by failing to reflect long-term value creation potential of company .As part of separation, Akzo Nobel will consider various alternative ownership structures for specialty chemicals business including, but not limited to, establishment of an independent listed entity.  Full Article

PPG Industries exploring potential deal with Akzo Nobel- Bloomberg
Wednesday, 8 Mar 2017 01:46pm EST 

Akzo Nobel Nv :PPG Industries exploring potential deal with Akzo Nobel- Bloomberg, citing sources.  Full Article

Akzo Nobel to cooperate with Itaconix
Friday, 27 Jan 2017 05:23am EST 

Akzo Nobel NV : Signed a framework joint development agreement with specialty chemicals company Itaconix .Agreement to explore opportunities for the production of bio-based polymers.  Full Article

Akzo nobel and Atul to jointly invest in new MCA factory
Friday, 9 Dec 2016 06:52am EST 

Akzo Nobel NV : And Atul to jointly invest in India in production of MCA in a new factory on Atul's Gujarat site .And Atul will both take 50 percent stake in to be built factory.  Full Article

More From Around the Web

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PPG CEO says remains interested in 'consensual' deal with Akzo

AMSTERDAM PPG Industries remains interested in negotiating a "consensual" deal with Akzo Nobel , even as the Dutch rival paint maker resists its 26.3 billion euro ($29.5 billion) takeover offer, PPG's top executive said on Tuesday.