PPG

AkzoNobel Rejects Third PPG Takeover Bid

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The world’s leading paintmaker AkzoNobel on Monday turned down a third revised offer bid from US-based rival PPG, saying it still undervalued the Dutch company. “The PPG proposal undervalues AkzoNobel, contains significant risks and uncertainties, makes no substantive commitments to stakeholders and demonstrates a lack of cultural understanding,” chief executive Ton Buchner in a statement. … Read more

Dulux Owner Reports ‘record Performance’

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US paint maker PPG has offered to pay more than $24bn (£19bn) for the firm. Dulux paint-owner AkzoNobel has reported a “record performance” for its first quarter as it continues to resist a hostile takeover attempt by a US rival. Earnings before income tax climbed 13% year-on-year to 376m euros (£314m), while sales were up … Read more