AkzoNobel rejects second takeover bid from PPG

By Kasia Patel
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.

The revised...

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