The most popular AkzoNobel rejected the global lea

2022-07-23
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AkzoNobel refuses to buy from the world's largest paint company by US $22.1 billion

AkzoNobel refuses to buy from the world's largest paint company 2. The global composite aviation material market capacity will increase from 9765 tons to 20189 tons. The US $2.1 billion acquisition

March 10, 2017

[China paint information]

is too low. AkzoNobel refused to buy from PPG, the world's largest paint company

in the afternoon of March 9, Beijing time, AkzoNobel issued a statement saying that PPG's acquisition greatly underestimated the value of AkzoNobel and was not in line with the interests of shareholders and customers. AkzoNobel confirmed that PPG industrial group purchased AkzoNobel for a consideration of 54.00 euros (equivalent to 57 US dollars) in cash per share plus 0.3 PPG industrial shares in cash plus 0.3 PPG shares. According to Wall Street reports, the acquisition funds totaled 20.9 billion euros ($22.1 billion)

at the same time, AkzoNobel also said that the company was considering the strategic choice of splitting the professional chemicals business. As part of the split, AkzoNobel will consider various alternative equity structure schemes for the professional chemicals business, including but not limited to the establishment of an independent listed entity

AkzoNobel's professional chemicals business had a sales volume of 4.8 billion euros in 2016. The company plans to continue to establish and strengthen its leading position in each segment of the market by splitting

in the statement, ton B ü chner, chief executive officer of AkzoNobel, stressed that AkzoNobel did not have any dialogue with PPG, nor proposed or accepted any dialogue

earlier, Bloomberg, the financial times and other foreign media quoted informed sources as saying that PPG was conducting a potential transaction with AkzoNobel

ppg and AkzoNobel are two giants in the coating industry, and their products range from protective coatings for iPhone to industrial paints. In 2012, PPG purchased AkzoNobel's North American architectural coatings business with us $1.05 billion

ppg is located in Pittsburgh, Pennsylvania, with a market valuation of about $25.9 billion. According to its official, PPG has 156 factories in the world that produce paints, special materials and glass fibers. The decline may not be large. PPG is the world's largest manufacturer of automotive and aerospace coatings, and ranks second in the world in terms of industrial laboratory health requirements in the construction and packaging market. PPG also provides nuclear grade coating protection system for nuclear power plants. Most of the nuclear grade protective coatings for Daya Bay nuclear power plant, China's first commercial nuclear power plant, are from PPG

AkzoNobel, headquartered in Amsterdam, the Netherlands, is the largest chemical company in the Netherlands and a giant in the global chemical field, with a current market value of about US $17billion. AkzoNobel is the largest coating supplier in Europe and the world's largest producer of protective and marine coatings. Its product portfolio spans basic chemistry. Nowadays, with the continuous development of the material industry, from chlorine related products to the formula of skin care cream and the paint used in F1 racing cars, Dulux, the commonly used architectural decoration paint, is also a brand under AkzoNobel

the recent M & A transactions in the coating industry are continuous, which may be one of the reasons why PPG intends to acquire AkzoNobel. Sherwin Williams paint company of the United States plans to acquire Valspar paint company of the United States for about 9.92 billion euros. After this acquisition, it will become a new largest paint manufacturer in the paint industry and challenge PPG's current position as the world leader. At the same time, Evonik industries Ag agreed to acquire the US $3.8 billion paint additive business from the US air products chemicals company

ppg has not issued any statement on this at present, and it is unknown whether PPG will insist on the acquisition of AkzoNobel

if PPG wants to continue to acquire AkzoNobel, it may also face political pressure, because the Dutch side is more and more alert to hostile takeover of domestic companies

according to the financial times, the Dutch finance minister Jeroen dijsselbloem said on March 7 local time that the government should have sufficient power to allow Dutch domestic enterprises to take measures to prevent hostile takeover by overseas investors in case of violation of national interests. When kafheinz made a takeover offer to Unilever, Dutch Prime Minister marklute said that he would review the advantages and disadvantages of the acquisition to the Netherlands. Later, Unilever rejected the $143billion offer, and kafheinz withdrew its acquisition proposal

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