AkzoNobel rejects second takeover bid from PPG
Published: Wednesday, 22 March 2017
A second unsolicited bid by PPG has been rejected by AkzoNobel, as the company outlined risk factors, anti-trust issues and overlap between the two companies.
Dutch paints and coatings manufacturer AkzoNobel has
rejected a second unsolicited, non-binding proposal from PPG
Industries, made on 20 March.
"The unsolicited proposal does not warrant
AkzoNobel’s engagement with PPG. The boards
unanimously reject PPG’s revised
proposal," the company said in a statement 22 March.