Wednesday 20 January 2021

AkzoNobel drops merger talks with Axalta as Nippon Paint steps in

Photo: AkzoNobel

Amsterdam-based paints and coatings group AkzoNobel has ended its merger talks with Axalta after Nippon Paint of Japan made a higher all-cash offer for the US paints firm, the Telegraaf reported on Wednesday.

Akzo and Axalta had been in negotiations since the end of October and Akzo  had termed the potential deal a ‘merger of equals’.  Earlier this year, Akzo rejected several hostile takeover attempts by another US peer, PPG Industries.

In an effort to assuage shareholders, Akzo is planning to split off its chemicals operations to concentrate on paint and coatings. Akzo said this operation remains on track.

‘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,’ the company said in a statement.

Thank you for donating to

The team would like to thank all the generous readers who have made a donation in recent weeks. Your financial support has helped us to expand our coverage of the coronavirus crisis into the evenings and weekends and make sure you are kept up to date with the latest developments. has been free for 14 years, but without the financial backing of our readers, we would not be able to provide you with fair and accurate news and features about all things Dutch. Your contributions make this possible.

If you have not yet made a donation, but would like to, you can do so via Ideal, credit card or Paypal.