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AkzoNobel's stock price soars after rejecting takeover bid

MarsBitNews
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Abstract generation in progress
Mars Finance News, May 27 — According to reports, AkzoNobel's stock price rose as much as 16% in early trading in Amsterdam, marking the largest gain since March 2017. Previously, the company stated that it had rejected cash acquisition offers from Japan's Nippon Paint and the U.S. company Sherwin-Williams, and will continue to pursue its plan to merge with U.S. company Axalta Coating Systems Ltd. AkzoNobel said that Nippon and Sherwin-Williams proposed to acquire AkzoNobel last month at €73 per share in cash (equivalent to $85). This would value AkzoNobel at approximately €12.5 billion. AkzoNobel stated that the proposal did not reflect the company's value and long-term prospects, nor was it better than the merger agreement signed by the company and Axalta last November. (Wide-angle Observation)
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BridgeBurner
· 3h ago
The Dutch company still doesn't want to sell to American and Japanese capital.
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DoNotTouchTheLiquidationLine.
· 7h ago
The stock price has already voted; shareholders support management.
View OriginalReply0
Orange-FlavoredColdWallet
· 7h ago
Refusing the merger of the two giants, this decision requires courage
View OriginalReply0
DuskStop-LossLine
· 7h ago
Sherwin-Williams and Nippon Paint jointly made an offer but didn't win, that's interesting.
View OriginalReply0
0xNoodleSoup
· 7h ago
73 euros per share, it’s normal for management to think it’s undervalued
View OriginalReply0
CandleLibrarian
· 7h ago
If AkzoNobel merges successfully, the global coatings landscape will change.
View OriginalReply0
StargazingWithAMirroredSphere
· 7h ago
The biggest increase since 2017, and the bears are about to cry.
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MarginMom
· 7h ago
Nippon Paint and Sherwin-Williams, this quote really isn't sincere. Who are you trying to fool?
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GateUser-423f10e3
· 7h ago
€12.5 billion worth of euros won't sell, AkzoNobel is quite confident.
View OriginalReply0
Paper-SculptedOctopusNight
· 7h ago
A 16% surge is indeed impressive; it looks like the market thinks the merger of Essity is more worthwhile than selling out.
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