Akzo Nobel terminates acquisition of paint brand Tikkurila
Recently, Akzo Nobel’s official website announced that Akzo Nobel had submitted a binding proposal to acquire Tikkurila at a price of 31.25 Euros per share on January 28, 2021, and conducted regular due diligence to confirm potential synergies. . After making a higher competitive offer for Tikkurila, it no longer intends to make this acquisition.
Akzo Nobel’s CEO stated that we have clear priorities and standards for capital allocation, including investing in growth, paying dividends, making acquisitions and making stock buybacks. The proposed acquisition of Tikkurila can no longer compete with more attractive opportunities, thereby creating higher value for our shareholders and other stakeholders.
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