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the paint maker, again rejected PPG's bid

2017.08.16   09:59

Well-known paint manufacturers based in the Netherlands akzo Nobel 8 announced that has refused to PPG industries group submitted on April 24, 2017, the third copy of the offer, the offer for akzo Nobel all outstanding common stock equity acquisition is put forward.

Akzo Nobel said in the latest statement, the decision is akzo Nobel and the management committee of the board of supervisors, in its closely cooperate with the financial advisor and legal counsel, deeply analyzes the PPG after the takeover bid. In the process, May 6, 2017, akzo Nobel, chief executive of tang boehner (Ton Buchner) and chairman of the supervisory board Antony Burgmans, with PPG, chairman and chief executive Michael McGarry and lead independent director Hugh Grant, held talks.

Akzo Nobel, said its released on April 19, 2017, in its own development strategy, put forward to accelerate the growth and development path to create long-term value, the strategy conforms to all the shareholders and all the best interests of other stakeholders. The strategy has been clear about the development roadmap, creating two pieces of focus and efficient business, namely, paint coatings and specialty chemicals business, in order to promote accelerated growth and improve profitability.

                                                                                                                                                                     By Betty

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