AkzoNobel spurns PPG again, doubles down on spin-out plans

By IM Staff
Published: Monday, 08 May 2017

The Dutch paint and chemical business AkzoNobel rebuffed another unsolicited take-over bid from US paint group PPG, the third such offer in two months.

AkzoNobel, the owner of Dulux paint, instead re-iterated its intention to spin out its speciality chemicals business into a free-standing entity, a move it said would "accelerate growth" in its paints and coatings segments.

The €26.9bn offer, of cash and shares equivalent to €96.75 per AkzoNobel share at time of...

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