AkzoNobel will reject PPG industry's latest takeov
2022-10-16- Detail
AkzoNobel will reject the latest acquisition offer of PPG industry
a resin supplier such as hendo, who participated in the initial stage, has played an important role. AkzoNobel will reject the latest acquisition offer of PPG industry
May 3, 2017
[large and medium-sized enterprises have difficulties in growing and do not use other materials to replace baiyingguo paint information]
according to informed sources, Dutch paint manufacturer AkzoNobel (otc: akzoy) will reject the latest takeover offer of PPG industry (nyse: PPG) in the next few days, which may lay the foundation for PPG's hostile takeover
PPG industry valued the company at about 26.9 billion euros in its latest acquisition offer to AkzoNobel, that is, 61.5 euros plus 0.357 PPG common shares were paid for each outstanding share of AkzoNobel. This offer is the second time PPG has raised the valuation. It also includes a commitment to maintain AkzoNobel's local relations in the Netherlands
in the interview, a spokesman of AkzoNobel said that the company was carefully examining and considering the conditions of this offer, which is also the requirements of the Dutch enterprise management regulations on the obligation of good faith. "We will reply to the offer at an appropriate time," the spokesman added, without specifying the specific time
according to PPG managers, if AkzoNobel refuses the offer, PPG may quickly turn to hostile acquisition strategies. The annual production capacity of AkzoNobel caustic soda and PVC decreased by 1million tons respectively. Elliot advisors, a Nobel shareholder and activist investor, has expressed support for the PPG industry and is likely to be an important factor in the war of mergers and acquisitions of AkzoNobel
however, it remains to be seen what defensive measures AkzoNobel and its CEO ton Buchner will take
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