AkzoNobel Shares Jump After $14.5 Billion Nippon Paint, Sherwin-Williams Takeover Bid
By Adria Calatayud
AkzoNobel shares jumped after the Dutch paint maker said it rejected a 12.49 billion-euro ($14.53 billion) takeover proposal from Nippon Paint Holdings and Sherwin-Williams.
Shares in AkzoNobel climbed as much as 17% to 61.38 euros in European early morning trading, erasing their losses earlier in the year.
The company said the proposal it rejected was for an indicative price of 73 euros a share, and involved Japan's Nippon Paint launching an all-cash offer and splitting up AkzoNobel's assets with U.S. rival Sherwin-Williams upon completion of the deal. The price represents a 39% premium to AkzoNobel closing share price of 52.52 euros on Tuesday.
Nippon Paint and Sherwin-Williams didn't immediately respond to requests for comment.
AkzoNobel said its management and supervisory boards continued to unanimously recommend a proposed merger with U.S. peer Axalta Coating Systems, and that they concluded that the proposal from Nippon Paint and Sherwin-Williams wasn't superior.
Write to Adria Calatayud at adria.calatayud@wsj.com
(END) Dow Jones Newswires
May 27, 2026 04:00 ET (08:00 GMT)
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