India, May 27 -- Wednesday, Akzo Nobel NV (AKU1.MU) confirmed the rejection of a takeover proposal from Nippon Paint Holdings Co. (NI7.F), and The Sherwin-Williams Company received on April 29, 2026, to buy all issued and outstanding shares of the company at an offer price of 73 euros per share in cash.
The proposal stated that Nippon would launch the all-cash public offer for all of the issued and outstanding shares of AkzoNobel, and on completion of the deal would retain AkzoNobel's Decorative Paints and Industrial Coatings businesses, whereas Automotive & Specialty Coatings, Marine & Protective Coatings and Powder Coatings businesses would be sold separately to Sherwin-Williams.
The rejection comes after the Board of Management and the...