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Sunday, 25 October 2020

Some truth in it: rumours on selling & buying Axalta

Thursday, 11 September 2014 | Posted by: Damir Gagro, European Coatings Journal

At first I was stunned when I read Carlyle Group has offered AkzNobel to buy Axalta last week. Reading the news closely showed it was just a rumour, especially when reading "insider information from people familiar with the situation”. Of course, as part of the media, I have contacted sources at the involved companies and got nearly the same answer by all of them: "We are not commenting on speculations and rumours”. So once again nothing but a hoax? I am not sure.

"No comment” is often read in the sports section of a newspaper? Sometimes transfers or transactions are going to happen and nobody wants to talk about details before all agreements are finalised. So it is understandable that the involved parties are hesitating to communicate too early. But it also happens from time to time that agents bring up the names of athletes, whom they are representing, just to bring them to market and make them attractive for other teams. At the end – in most cases – we can read about a successful transfer a couple of weeks later.

I don’t want to say that the seller or the object to be bought have initiated the rumours. So, what’s behind these rumours that are swirling around in case of Axalta and AkzoNobel? In fact, it’s not the first time that the Dutch paint producer has been linked to automotive coatings manufacturer. At the end of 2011, when the business was still part of DuPont, it was rumoured that the business unit would be the perfect fit for AkzoNobel. Eventually, the Carlyle Group announced to buy the business unit in 2012.

Now, two years later we have nearly the same story. AkzoNobel may buy or may not buy Axalta. But the rumour gives a good indication that the possibility that Axalta will be sold is not ludicrous. I think there is a good chance to read an article on a transaction in this case. What is your opinion?

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