November 30, 2017 / 5:59 PM / a year ago

Nippon Paint, Axalta end merger talks

Nov 30 (Reuters) - Axalta Coating Systems said on Thursday that talks with Japan’s Nippon Paint Holdings Co Ltd about a potential takeover of the U.S. coatings company have ended.

Axalta said Nippon Paint’s board was “unwilling” to meet Axalta’s expectations regarding the value of the company.

Nippon Paint’s latest cash offer valued Axalta at $37 per share but Axalta wanted more, according to two people familiar with the matter who requested anonymity to discuss confidential details. (Reporting by Sanjana Shivdas in Bengaluru and Greg Roumeliotis in New York; editing by Sai Sachin Ravikumar)

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