The merger between Dutch coatings giant Akzo Nobel and US-based Axalta Coating Systems was formally approved at an extraordinary general meeting of shareholders. As a result, Nippon Paint Holdings missed the opportunity to acquire Akzo's architectural coatings business.
The merger between Dutch coatings giant Akzo Nobel and US-based Axalta Coating Systems was formally approved at Akzo's extraordinary general meeting of shareholders. The companies aim to strengthen their global scale and innovation capabilities under the new structure.
Nippon Paint Holdings has missed the opportunity to acquire Akzo's architectural coatings business. The company's counterbid acquisition plan is reported to have been shelved as a result of the merger.