PPG is still eyeing a takeover of AkzoNobel

According to Bloomberg’s report, PPG prepares a new bid for AkzoNobel, after first offer failed.

The details of new proposal haven't been released yet. AkzoNobel rejected a €20.9 billion takeover proposal on March 9, 2017. AkzoNobel announced that PPG's offer is "substantially undervalues" for the company.

At that time, PPG replied that they will estimate its status carefully. However, PPG also asserted that this bid is an "attractive and comprehensive proposal".

The PPG takeover proposal was came out on March 15, and many politicians were worried about this proposal. On Monday, four provincial governors still againsted this proposal, as it may hurt Dutch jobs. On Wednesday, AkzoNobel said that PPG’s proposal was unsolicited and it did not estimate its initial concerns, such as valuation, risks, job losses and so on.

About PPG

PPG is a global supplier of paints and coatings, aerospace, optical, fiberglass and specialty materials. PPG has annual revenues of approximately $15 billion and a current market capitalization of approximately $26 billion. PPG and its affiliates employ more than 45,000 employees, operate over 150 plants and have a presence in more than 70 countries around the world, including approximately 14,000 employees and 45 plants in 15 different countries in Europe.