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The conditional proposal targets a major AkzoNobel segment as shareholders prepare to vote on the company’s planned merger with Axalta.

The coatings maker is assessing an order affecting its remaining localized business, which accounts for less than 2% of company revenue.

The proposed acquisition would expand the company’s reach in electronics, industrial surface finishing and other advanced-materials markets.

The acquisition adds a Vancouver-based distributor serving industrial wood-finishing customers in the Pacific Northwest.

The appointment takes effect Aug. 1, following Michael Hansen’s departure and a brief joint interim leadership arrangement.

The former BASF business begins operating independently with a new identity, familiar brands and a leadership team for the next phase.

A long-pending transaction has formally closed, moving BASF’s former automotive, refinish and surface-treatment businesses into their next chapter.

The proposed federal action spans four facilities and lays out years of treatment, water and compliance commitments that still require court approval.

A former Axalta and FinishMaster executive will lead BASF Coatings’ global automotive refinish business through its next phase.

A closely watched coatings industry proposal has ended with new statements from involved companies.