Ton Buchner

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Jun 1 '17 13:30

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. 

Mar 9 '17 11:40

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. 

ByWizQMIUAIFk4d
Oct 31 '14 12:02

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

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