May 30, 2017 / 8:57 PM / 6 months ago

Dutch deny PPG's move to extend Akzo Nobel tender offer deadline -sources

May 30 (Reuters) - Dutch financial regulator AFM has informed U.S. coatings maker PPG Industries Inc that it will not extend the June 1 deadline for making a tender offer for Dutch paint maker Akzo Nobel, people familiar with the matter said on Tuesday.

The move means PPG has to decide by June 1 on whether to launch a bid for Akzo Nobel’s shares, or walk away for six months. PPG’s board met on Tuesday to discuss its options, the sources said, asking not to be identified because AFM has not made its decision public.

AFM spokeswoman Celeste de Wit said she was not aware of any decision. PPG and Akzo Nobel declined to comment. (Reporting by Greg Roumeliotis in New York; Editing by Lisa Shumaker)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below