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Thursday, 19 September 2019
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Markets & companies, Coatings market

Has Carlyle approached Akzo Nobel to acquire Axalta?

Wednesday, 3 September 2014

Bloomberg reports that Akzo Nobel has been offered to buy Axalta for around EUR 5.3 billion.

Akzo Nobel is said to have been solicited to buy Axalta. Source: Tessa Posthuma De Boer

Akzo Nobel is said to have been solicited to buy Axalta. Source: Tessa Posthuma De Boer

Akzo Nobel’s Chief Executive Officer Ton Büchner has been solicited for a potential acquisition of Axalta Coating Systems, Bloomberg reported on September 2nd, citing people familiar with the matter. Another potential buyer could be Sherwin Williams. The price is said to amount to EUR 5.3 billion.

On the one hand, this sum does not quite fit in the coatings manufacturer’s recent savings policy but, on the other hand, would grant an opportunity to expand on the American market. The Carlyle Group, the current owner, would benefit from the sale, as the company had paid EUR 3.7 billion for the acquisition of the car coatings manufacturer from DuPont in February 2013. All companies are yet to issue a statement.

Bloomberg’s article is available under: http://www.bloomberg.com/news/2014-09-01/akzo-s-cost-cutting-ceo-said-solicited-for-7-bln-deal.html.

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