AkzoNobel: ends merger talks with US peer Axalta.
(CercleFinance.com) - AkzoNobel has ended talks to merge with US coatings maker Axalta after failing to find an agreement for the deal, the Dutch company announced on Wednesday.
In response to market speculation, AkzoNobel said in late October that it was in discussions with Axalta regarding a merger of their paints and coatings businesses, through a merger of equals.
AkzoNobel said that the separation of its specialty chemicals business, as well as the return of the vast majority of net proceeds to shareholders, remained on track.
Listed on Euronext Amsterdam, the shares are currently up 1.7% at 79.3 euros.
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