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