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Akzo Nobel takes on PPG in battle to buy Finland's Tikkurila

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AMSTERDAM (Reuters) - Dutch paints and coatings maker Akzo Nobel locked horns with U.S. rival PPG Industries again on Monday, making a $1.7 billion counterbid for Finland’s Tikkurila.
Akzo said it was willing to pay 31.25 euros per outstanding share, valuing Tikkurila at 1.4 billion euros, exceeding the 1.2 billion euros offered by PPG two weeks ago.
It invited the Finnish company’s board, which had already agreed to PPG’s offer, to enter talks. Relations between the Dutch and American firms soured in 2017 when PPG made an unsuccessful attempt to buy Akzo for $26.5 billion.
Investors in Tikkurila were not convinced that Akzo’s non-binding bid would immediately end the battle, as its share price soared 17% to 32.60 euros ($39.33), well above Akzo’s offer. ....

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Akzo Nobel N : takes on PPG in battle to buy Finland's Tikkurila

Dutch paints and coatings
maker Akzo Nobel locked horns with U.S. rival PPG Industries
again on Monday, making a $1.7 billion counterbid for
Finland s Tikkurila.
Akzo said it was willing. | January 19, 2021 ....

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Akzo Nobel takes on PPG in battle to buy Finland's Tikkurila

Dutch paints and coatings maker Akzo Nobel locked horns with U.S. rival PPG Industries again on Monday, making a $1.7 billion counterbid for Finland's Tikkurila. ....

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