AkzoNobel

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AkzoNobel discussing merger with U.S. paint producer Axalta

Oct 30 '17 16:10
Business

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. 

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PPG backs off AkzoNobel, withdraws buyout bid

Jun 1 '17 13:30
Business

American paint company PPG Industries decided to withdraw its takeover bid for AkzoNobel. After a final attempt to get the Dutch company to accept the bid, PPG decided to give up, PPG CEO Michael McGarry said in a statement. "Akzo did not respond. We believe it's best for PPG and its shareholders to stop this attempt now", he said, AD reports.

The Americans offered 27 billion euros for AkzoNobel. The withdrawal of the bid puts an end to an acquisition attempt that lasted almost three months. 

Shareholder revolt at AkzoNobel calls for board shakeup

Apr 12 '17 13:40
Business

Shareholders in Dutch paint company Akzo Nobel are calling for a board shakeup and for CEO Antony Burgmans to be removed after Akzo immediately rejected a takeover bid by American rival PPG Industries, Reuters reports. Elliott Investors, one of Akzo's largest investors, managed to get the necessary 10 percent investors support to call an extraordinary shareholders meeting to vote on removing Burgmans. 

AkzoNobel rejects takeover bid by American rival

Mar 9 '17 11:40
Business

AkzoNobel rejected an unsolicited takeover bid from American company PPG Industries, the Dutch paint and chemicals company announced on Thursday morning after PPG's bid leaked to the media. According to AkzoNobel, the PPG offer is too low and not in the interest of shareholders, customers or staff, ANP reports.

PPG offered 54 euros in cash and 0.3 PPG shares for each AkzoNobel share. Using the PPG share price on February 28th, the bid amounted to 83 euros per AkzoNobel share. The Dutch company's stock closed at 64.52 euros per share on Wednesday. 

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Dutch companies to give jobs to Syrian refugees in Turkey

May 24 '16 15:00
Business

Dutch companies in Turkey are also considering Syrian refugees when looking to fill vacancies, Minister Lilianne Ploumen of Foreign Trade announced. Currently there are 240 vacancies that are open to refugees. "That is beautiful"

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Dutch CEOs avoid Twitter, social media like the plague

Oct 31 '14 12:02
Business

Not a single CEO of the Dutch AEX companies uses Twitter.

TU Eindhoven

Companies fight for tech uni talent

Jun 5 '14 11:59
Sci/Tech

To fill the need for new talent in the engineering sector, companies like Philips are going to finance PhD places at Universities. Philips itself is financing 30 places at the University of Technology (TU) of Eindhoven. Head of Philips is calling this the next step in "the war on talent."

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