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Axalta and Akzo Nobel shareholders approve merger of equals in landmark coatings industry vote
Shareholders of both Axalta Coating Systems and Akzo Nobel have voted overwhelmingly in favour of a proposed all-stock merger of equals, marking a significant milestone in the creation of a combined global coatings company. Completion remains subject to regulatory approvals, with finalisation expected in late 2026 or early 2027.
Axalta Coating Systems and Akzo Nobel have each received shareholder approval for their proposed all-stock merger of equals. Both companies held their respective general meetings on 5 August 2026 – Axalta a Special General Meeting and Akzo Nobel an Extraordinary General Meeting (EGM) – at which shareholders voted in favour of the transaction. The simultaneous approval at both meetings moves the merger into its next phase.
At the Akzo Nobel EGM, shareholders approved a range of resolutions related to the merger, including the amendment of the Articles of Association, the authorisation to issue shares in connection with the transaction, proposed appointments to the Board of Directors, and a proposed remuneration policy. Axalta shareholders likewise voted to approve the merger at their Special General Meeting held on the same day.
Regulatory approvals still required before completion
Despite the shareholder endorsements, completion of the merger remains subject to receipt of required regulatory approvals and other customary closing conditions. Both companies continue to expect the transaction to be finalised in late 2026 or early 2027, once all conditions have been met.
Axalta CEO Chris Villavarayan welcomed the outcome: “We appreciate the strong support we have received for our merger of equals with Akzo Nobel and we are excited about the opportunity to deliver significant value to shareholders, customers and employees. Building on our record second quarter, we are excited to embark on our next phase with real momentum in the business. Our teams are working diligently to advance integration planning and remain focused on bringing together two highly complementary businesses to capture the full value of this combination from day one.”
Vision for a combined global coatings company
Rakesh Sachdev, Chair of the Axalta Board of Directors, described the vote as a reaffirmation of the strategic rationale behind the transaction: “The resounding support reaffirms our conviction that combining Axalta and Akzo Nobel will create a differentiated industry leader with broad capabilities, world-class innovation and an even stronger platform for growth and value creation.”
Akzo Nobel CEO Greg Poux-Guillaume, who is set to serve as CEO of the combined company, commented: “Today’s vote represents a significant milestone towards bringing together two highly complementary businesses. It gives us a clear mandate to realize our vision of a stronger, more innovative global coatings leader which will deliver outstanding long-term value for customers, employees and shareholders.”
Ben Noteboom, Chair of Akzo Nobel’s Supervisory Board and future Vice-Chair of the combined company, added: “We’re delighted that shareholders have backed our ambitious growth plans and share our vision for what the two companies can achieve together. We can now move into the final phase of the merger process with confidence and begin to unlock the value of our full combined potential.”
