AkzoNobel Ends Talk About Potential Merger With Axalta

AkzoNobel NV has confirmed that it has ended its constructive discussions regarding a merger of the AkzoNobel paints & coatings business with Axalta Coating Systems.

AkzoNobel and Axalta ended their discussions without agreement.

AkzoNobel continues to focus on its strategy of accelerating sustainable growth and profitability through the creation of two focused, high-performing businesses and remains committed to its 2020 financial guidance.

The separation of the AkzoNobel speciality chemicals business and return of the vast majority of the net proceeds to shareholders remain on track.

“I am confident that our strategy offers significant value for shareholders and other stakeholders in the short, medium and long-term. We remain focused on our strategic options to continue to develop our business and improve profitability in the future,” said Thierry Vanlancker, CEO of AkzoNobel.