PITTSBURGH — PPG announced that it has completed its acquisition of all of the shares of Tikkurila, a leading Nordic paint and coatings company, tendered into PPG’s tender offer as of the expiration of the offer on June 4, 2021. Tikkurila shareholders received €34.00 in cash for each of the 38,711,646 million shares of Tikkurila tendered. Together with the shares it previously acquired, PPG now controls 97.1% of Tikkurila’s issued and outstanding shares. The remaining 2.9% will be acquired through a squeeze out process, which PPG reports will be initiated promptly.
“We look forward to welcoming Tikkurila employees and leveraging the company’s complementary geographic footprint and strong portfolio of decorative brands to drive future growth,” said Michael McGarry, PPG Chairman and Chief Executive Officer. “Our teams will work as One PPG to provide customers with expanded paint and coatings options that will now include Tikkurila’s environmentally friendly decorative products and high-quality industrial coatings.”