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Akzo Nobel NV (AKZOY.PK)

AKZOY.PK on OTC Markets Group

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Volume
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Latest Key Developments (Source: Significant Developments)

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

S.Africa's Competion Commission approves Akzo Nobel, BASF IC deal
Thursday, 4 Aug 2016 08:55am EDT 

South Africa's Competition Commision: • South Africa's Competition Commision approved without conditions intermediate merger whereby Akzo Nobel intends to acquire BASF IC • Competition Commission (commission) has approved without conditions intermediate merger whereby Akzo Nobel intends to acquire BASF IC:.  Full Article

Akzo Nobel acquires 100 percent share of powder coatings venture in Egypt
Tuesday, 26 Jul 2016 04:40am EDT 

Akzo Nobel Nv : Acquires 100 percent share of powder coatings venture in Egypt .Says has raised its stake in Akzo Nobel Powder Coatings SAE in Egypt from 60 percent to 100 percent.  Full Article

Akzo nobel Q2 revenue down 6 pct to 3.7 bln euros
Tuesday, 19 Jul 2016 01:19am EDT 

Akzo Nobel NV : Q2 revenue down 6 pct to 3.7 billion euros ($4.10 billion), strongly adversely affected by currencies . Q2 EBIT (operating income excluding incidental items) up 9 pct at 491 million euros (2015: 452 million euros) . Q2 net income attributable to shareholders 312 million euros (2015: 331 million euros, which included positive incidental items) . Reuters poll: Q2 revenue 3.87 billion euros; net income adjusted 323 million euros; EBITDA 623 million euros . Further de-risking of UK pension liabilities .Outlook: the market environment remains uncertain with challenging conditions in several countries and segments. Deflationary pressures and currency headwinds are expected to continue.  Full Article

Akzo Nobel and Atul Limited planning Indian MCA joint venture
Thursday, 28 Apr 2016 05:16am EDT 

Akzo Nobel NV:AkzoNobel and Atul Limited planning Indian MCA joint venture.Akzo and Atul to install world scale MCA plant at Atul's facility in Gujarat, subject to the necessary regulatory approvals.  Full Article

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PPG chief snubbed by Akzo during Netherlands visit

AMSTERDAM A team of executives from U.S. paint maker PPG left the Netherlands on Friday without meeting their counterparts at Akzo Nobel during a two-day charm offensive to win support for their proposed takeover of their Dutch rival.