AkzoNobel Rejects PPG’s $22 Billion Bid

March 14, 2017
PPG’s unsolicited offer has prompted AkzoNobel to explore selling off its specialty chemicals division.

AkzoNobel rejects a $22 billion bid from PPG Industries despite notable consolidation in the chemicals industry, according to an article from MarketWatch. AkzoNobel is also reportedly exploring selling off its specialty chemicals division, spurred by PPG’s unsolicited offer.

According to MarketWatch, AkzoNobel said PPG’s offer significantly undervalues the company and it was unanimously rejected by the company’s board. PPG’s bid was reportedly a strategic response to the pending closing of a deal by rival Sherwin-Williams for Valspar Corp. PPG continues to believe in the rationale for the transaction and is considering next steps, according to the article.

Read more from MarketWatch here.

Sponsored Recommendations

Heat Recovery: Turning Air Compressors into an Energy Source

More than just providing plant air, they're also a useful source of heat, energy savings, and sustainable operations.

Controls for Industrial Compressed Air Systems

Master controllers leverage the advantages of each type of compressor control and take air system operations and efficiency to new heights.

Discover Your Savings Potential with the Kaeser Toolbox

Discover your compressed air station savings potential today with our toolbox full of calculators that will help you determine how you can optimize your system!

The Art of Dryer Sizing

Read how to size compressed air dryers with these tips and simple calculations and correction factors from air system specialists.