AkzoNobel and Axalta End Merger Discussions
23 November 2017
On October 30th 2017, in response to market speculation, AkzoNobel confirmed it was in constructive discussions regarding a potential merger of the AkzoNobel Paints and Coatings business with Axalta.
AkzoNobel and Axalta ended their discussions without agreement.
AkzoNobel continues to focus on its strategy of accelerating sustainable growth and profitability through the creation of two focused, high-performing businesses and remains committed to its 2020 financial guidance (15% ROS and >25% ROI).
The separation of the AkzoNobel Specialty Chemicals business and return of the vast majority of the net proceeds to shareholders remain on track.
Thierry Vanlancker, CEO of AkzoNobel, said: “I am confident that our strategy offers significant value for shareholders and other stakeholders in the short, medium and long term. We remain focused on our strategic options to continue to develop our business and improve profitability in the future.”