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.
Akzo Nobel N.V. (AKZA; AKZOY)
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.”
This is a public announcement by Akzo Nobel N.V. pursuant to section 17 paragraph 1 of the European Market Abuse Regulation (596/2014). This public announcement does not constitute an offer, or any solicitation of any offer, to buy or subscribe for any securities.