November 21, 2017 / 10:13 PM / 6 months ago

Exclusive: Nippon offer prompted Axalta to end Akzo Nobel merger talks -source

(Reuters) - Japan’s Nippon Paint Holdings Co Ltd (4612.T) made an all-cash offer on Tuesday to acquire Axalta Coating Systems Ltd (AXTA.N), a source familiar with the matter said, prompting Axalta to end merger talks with Akzo Nobel NV (AKZO.AS).

Nippon’s offer came at a premium to where Axalta shares ended trading on Monday, the source said, asking not to be identified because the matter is confidential.

Nippon did not immediately respond to a request for comment, while Akzo Nobel and Axalta declined to comment.

    Reporting by Greg Roumeliotis in New York; Editing by Chris Reese

    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