Media coverage from The Wall Street Journal and Yahoo Finance indicates that Shapiro Capital Management is not supportive of the proposed AkzoNobel–Axalta merger. According to those reports, Shapiro believes the deal undervalues Axalta and may vote against the transaction unless improved terms are offered. The outlets reported that firm leadership described the deal as “disappointing” and said Axalta shareholders “should get the premium they deserve.”

Wall Street Journal coverage: https://www.wsj.com/business/deals/axalta-investor-urges-company-to-restructure-17-billion-merger-with-akzonobel

Yahoo Finance coverage: https://finance.yahoo.com/news/akzo-nobel-axalta-merger-faces-213223250.html

PCI has not identified any formal public statement issued directly by Shapiro.

For more analysis on the merger announcement, read PCI's Editor's Viewpoint coverage.