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BRIEF-PPG submits revised proposal to AkzoNobel to combine companies
April 24, 2017 / 10:54 AM / 5 months ago

BRIEF-PPG submits revised proposal to AkzoNobel to combine companies

April 24 (Reuters) - Ppg Industries Inc

* PPG submits revised proposal to Akzonobel to combine companies

* Revised proposal includes increased price of eur 96.75 (cum dividend) per Akzonobel ordinary share, an increase of eur 6.75 per share

* PPG is prepared to commit to a significant reverse break-up fee to demonstrate confidence that required antitrust approvals can be obtained

* Including assumption of net debt and minority interests, proposed transaction is now valued at approximately eur 26.9 billion, or $28.8 billion

* “PPG believes its revised proposal is vastly superior to Akzonobel’s new standalone plan, as articulated on April 19, 2017”

* Revised proposal provides additional details, significant commitments to ensure combined business serves best interests of akzonobel stakeholders

* PPG‘S revised proposal is comprised of cash of eur 61.50 and 0.357 shares of PPG common stock Source text for Eikon: Further company coverage:

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