Axalta Coating Systems Ltd (AXTA.N)
17 Nov 2017
The story "Akzo Nobel: options for chemicals arm are sale or spin-off, no IPO" was based on an Oct. 18 press release and was sent in error. The story also contained an incorrect reference to the company stating that it would not consider an IPO for its Specialty Chemicals division. The story has been withdrawn and no substitute story will be published.
LONDON (Reuters Breakingviews) - Akzo Nobel has added another ball to an already tricky juggling act. Fresh from deflecting a takeover from one U.S. rival, the Dutch group confirmed on Monday that it is considering merging its paint unit with another, former DuPont subsidiary Axalta. A combination makes sense. But new Chief Executive Thierry Vanlancker is busy grappling with weak results and a chemicals spinoff.
AMSTERDAM/FRANKFURT Dutch paints maker Akzo Nobel, seeking to recover after rejecting a takeover offer and issuing two profit warnings, is discussing a merger with smaller U.S. rival Axalta Coating Systems Ltd to create a $30 billion company. | Video
AMSTERDAM Dutch paints maker Akzo Nobel, under pressure after rejecting a lucrative takeover offer and two profit warnings, has confirmed merger talks with smaller U.S. rival Axalta Coating Systems Ltd to create a $30 billion company.
* Akzo considered buying Axalta in 2014 (Adds industry background, deal rationale, analyst and investor comments)
Oct 30 Below are company-related news and stories from French and Benelux media which could have an impact on the region's markets or individual stocks.
* CONFIRMS CONSTRUCTIVE DISCUSSIONS WITH AXALTA REGARDING POTENTIAL MERGER
AMSTERDAM, Oct 30 Akzo Nobel, the Dutch maker of paints and coatings, confirmed on Monday it was in talks to buy U.S. coatings maker Axalta Coating Systems Ltd .
FRANKFURT/NEW YORK Dutch paints and coatings giant Akzo Nobel NV has approached U.S. rival Axalta Coating Systems Ltd to discuss a possible merger that would create a global coatings giant, according to sources familiar with the matter.
FRANKFURT/NEW YORK, Oct 27 Dutch paints and coatings giant Akzo Nobel NV has approached U.S. rival Axalta Coating Systems Ltd to discuss a possible merger that would create a global coatings giant, according to sources familiar with the matter.