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 AM
PPG 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