Sep. 2, 2014, 3:52 AM
- Despite Akzo Nobel (OTCQX:AKZOY) CEO Ton Buechner's cost cutting agenda, the chief exec is being singled out for a deal to buy Axalta Coating Systems for more than $7B.
- Bloomberg reports that the company has not yet indicated if it will pursue the deal.
- Carlyle Group (NASDAQ:CG) purchased vehicle-coatings company Axalta from Dupont for $4.9B in February 2013 and filed for its IPO last month.
Dec. 14, 2012, 4:56 AMPPG Industries (PPG) agrees to acquire the North American decorative paints business of Akzo Nobel (AKZOF.PK) for $1.1B. The deal will increase PPG's U.S. market share to an estimated 28% from 15% and boost its challenge to Sherwin-Williams, which holds 36%. PPG may also be buying the unit, which sells the Glidden paint brand and recently became profitable, on the cheap: the price represent 0.7X of sales vs 1X for similar deals in the sector. (PR) | Dec. 14, 2012, 4:56 AM | Comment!
AKZOF vs. ETF Alternatives
Akzo Nobel is a diversified multinational group of companies with activities in paint, coatings and chemicals. The coatings group includes aerospace and automotive, decorative,industrial, marine and protective and powder coatings. The chemicals group includes industrial,functional, pulp and... More
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