AkzoNobel and American paint manufacturer Axalta are conducting "constructive talks" on a possible merger, the Dutch company announced in a short press release on Monday. According to AkzoNobel, this is not an acquisition, but rather a "merger of equals", RTL Nieuws reports.
The Dutch company consists of a paint division and a chemical division. AkzoNobel plans to sell off the chemical division early in next year. The remaining paint division will then merge with Axalta, if all goes according to plan.