Maker of Dulux Paint Rejects $22 Billion Takeover Bid From American Rival -<br />By CHAD BRAYMARCH 9, 2017<br />LONDON — Akzo Nobel, the Dutch paint and chemicals company, said on Thursday<br />that it had rejected an unsolicited takeover offer from PPG Industries that valued it at $22 billion and that would have created an industry giant in a rapidly consolidating sector.<br />“The proposal is not in the interest of Akzo Nobel’s stakeholders, including its<br />shareholders, customers and employees, and we have unanimously rejected it.”<br />Under the terms of the offer, Akzo Nobel investors would have received 54 euros in cash<br />and 0.3 of a PPG share for each share of Akzo Nobel they hold, equivalent to €83 a share.
