AkzoNobel confirms talks to merge paints, coatings unit with Axalta
October 31, 2017,
HIGH POINT – Global coatings specialist AkzoNobel N.V. has confirmed it is in discussions to merge its AkzoNobel Paints & Coatings Business with Axalta.
The company said such a deal would “create a leading global paints and coatings company through a merger of equals.”
Axalta Coating Systems was in the news this past spring when it purchased the North American Industrial Wood Coatings business of Valspar Corp. for an estimated $420 million.
Valspar divested this segment in response to regulatory concerns expressed by the U.S. Federal Trade Commission and the Canadian Competition Bureau regarding Sherwin-Williams’ acquisition of Valspar Corp.
Sherwin Williams completed this acquisition June 1, the same day Axalta completed the purchase of Valspar’s industrial wood coatings business.
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