Axalta Ends Discussions with AkzoNobel, Confirms Negotiations with Nippon Paint
PHILADELPHIA – Axalta Coating Systems has ended merger discussions with Amsterdam-based AkzoNobel and has confirmed that the company is negotiating with Japan-based Nippon Paint regarding an acquisition of Axalta by Nippon.
“Axalta today confirmed that it is engaged in discussions with Nippon Paint regarding a potential acquisition of Axalta. Axalta will pursue such a transaction only if its board of directors determines that it is in the best interest of Axalta to do so. There can be no assurances that a definitive agreement between the parties will be reached or on what terms,” the company said in a press released sent out today.