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Akzo Nobel NV (AKZOY.PK)

AKZOY.PK on OTC Markets Group

28.55USD
24 May 2017
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Latest Key Developments (Source: Significant Developments)

Jean Boulle Luxury announces agreement with AkzoNobel for production of its aviation Grade Sun King Diamond Coating
Wednesday, 10 May 2017 08:39am EDT 

May 10 (Reuters) - JEAN BOULLE LUXURY::ANNOUNCES AGREEMENT WITH AKZONOBEL <<>> FOR PRODUCTION OF ITS AVIATION GRADE SUN KING DIAMOND COATING FOR THE PRIVATE AND COMMERCIAL JET MARKET.UNDER THE AGREEMENT AKZONOBEL WILL BE THE EXCLUSIVE SUPPLIER OF THE AVIATION GRADE SUN KING DIAMOND COATING.  Full Article

Elliott Advisors limited condemns Akzo Nobel's rejection of third PPG proposal
Tuesday, 9 May 2017 01:01am EDT 

May 9 (Reuters) - Elliott Advisors-:Elliott advisors limited condemns Akzo Nobel N.V.'s rejection of third PPG proposal; has filed petition with enterprise chamber regarding EGM.Elliott - Considers reasons outlined by Akzo Nobel's boards for declining PPG's third proposal to be "unconvincing and unsupported by any available evidence".Elliott advisors - believes PPG's third proposal sufficiently addresses concerns expressed by boards warrant Akzo Nobel's constructive engagement with PPG.  Full Article

Elliott condemns Akzo Nobel's rejection of EGM
Tuesday, 25 Apr 2017 01:15pm EDT 

April 25 (Reuters) - Elliott Advisors (UK) Limited::Elliott Advisors (UK) Limited condemns Akzo Nobel's <<>> rejection of Extraordinary General Meeting.Says it views Akzo Nobel’s rejection of the EGM request as groundless.Says shareholder feedback apparently indicates that shareholders would vote to remove Mr. Burgmans from his position as chairman of the supervisory board.Says given there is third PPG proposal being considered by Akzo Nobel’s boards, Elliott intends to assess Akzo Nobel’s response to that proposal.Elliott says is confident that the EGM request meets the required standards of reasonableness and fairness, and passes the 'legitimate interest' test.  Full Article

AkzoNobel backs chairman in response to EGM request
Tuesday, 25 Apr 2017 07:30am EDT 

April 25 (Reuters) - Akzo Nobel NV ::AkzoNobel strongly supports chairman in response to EGM request.Supervisory board has concluded that request from Elliott advisers to dismiss chairman does not meet standards required under Dutch law.  Full Article

Elliott Advisors (UK) says is encouraged that Akzo Nobel has stated that it will "carefully review and consider" PPG's latest proposal
Monday, 24 Apr 2017 01:39pm EDT 

April 24 (Reuters) - :Elliott Advisors (UK) says is encouraged that Akzo Nobel has stated that it will "carefully review and consider" PPG's latest proposal.Elliott Advisors (UK) says continues to believe that it is in the interest of all stakeholders for Akzo Nobel's boards to accept PPG's offer.Elliott Advisors (UK) says there can be no reasonable doubt that PPG's revised proposal represents a bona fide proposal from a credible counterparty.  Full Article

Akzo Nobel confirms it has received a third unsolicited and conditional proposal from PPG
Monday, 24 Apr 2017 07:06am EDT 

April 24 (Reuters) - Akzo Nobel Nv :Confirms it has received a third unsolicited and conditional proposal from PPG for all outstanding share capital of company.Board of management and supervisory board of Akzonobel will carefully review and consider PPG proposal.  Full Article

PPG submits revised proposal to AkzoNobel to combine companies
Monday, 24 Apr 2017 06:30am EDT 

April 24 (Reuters) - Ppg Industries Inc :PPG submits revised proposal to Akzonobel to combine companies.Revised proposal includes increased price of eur 96.75 (cum dividend) per Akzonobel ordinary share, an increase of eur 6.75 per share.PPG is prepared to commit to a significant reverse break-up fee to demonstrate confidence that required antitrust approvals can be obtained.Including assumption of net debt and minority interests, proposed transaction is now valued at approximately eur 26.9 billion, or $28.8 billion."PPG believes its revised proposal is vastly superior to Akzonobel's new standalone plan, as articulated on April 19, 2017".Revised proposal provides additional details, significant commitments to ensure combined business serves best interests of akzonobel stakeholders.PPG'S revised proposal is comprised of cash of eur 61.50 and 0.357 shares of PPG common stock.  Full Article

PPG reports Q1 EPS of $1.29
Thursday, 20 Apr 2017 06:51am EDT 

April 20 (Reuters) - PPG Industries Inc :PPG reports first quarter 2017 financial results.Q1 earnings per share $1.29 from continuing operations.Q1 earnings per share view $1.32 -- Thomson Reuters I/B/E/S.Q1 earnings per share $1.29.Reiterated commitment to deploy at least $2.5 billion-$3.5 billion cash on acquisitions and share repurchases in years 2017 and 2018 combined.Q1 2017 net sales of about $3.6 billion, up 1 percent versus prior year.Remain willing to engage with Akzonobel, continue to believe a combination of 2 cos is in best interest of both companies' stakeholders.Unfavorable foreign currency translation impacted net sales by nearly 2 percent, or about $65 million in quarter.Q1 2017 adjusted net income from continuing operations was $1.35 per diluted share.  Full Article

Akzo Nobel aims 150 million euros savings per year - conference call
Wednesday, 19 Apr 2017 07:36am EDT 

April 19 (Reuters) - Akzo Nobel Nv ::Step change in growth post-separation of specialty chemicals: additional 200 million euros EBITDA by 2022 – conference call.Each of the business units shows the same level of profitability – conference call.Continues improvement will deliver 150 million euros savings per year – conference call.  Full Article

Akzo Nobel to separate Specialty Chemicals within 12 months
Wednesday, 19 Apr 2017 02:01am EDT 

April 19 (Reuters) - Akzo Nobel NV ::Akzo Nobel unveils new strategy to accelerate growth and value creation.Creation of two focused, high-performing businesses with sustainable growth plans.Separation of specialty chemicals within 12 months: vast majority of net proceeds will be returned to shareholders.1.6 billion euros to be returned to shareholders for 2017 via a 1 billion euro special dividend combined with a 50 percent increase to regular dividend.Dual-Track Process With Active Consideration Of A Separate Listed Entity Or Sale.Investment of 1 billion euros in research and development by 2020 to maintain focus on innovation and new product development.  Full Article

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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.