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Akzo’s Cost-Cutting CEO Said Solicited for $7 Bln Deal

Akzo Nobel NV, Europe’s largest paintmaker, is being sounded out as a potential buyer of Axalta Coating Systems valued at $7 billion, according to people familiar with the matter.

Carlyle Group LP, which bought car-coatings company Axalta from DuPont Co. for $4.9 billion in February 2013, is open to bids alongside a planned initial public offering, said the people, who asked not to be identified because the plan is private. Investment bankers are speaking with Amsterdam-based Akzo Nobel to pitch a deal, although the Dutch company hasn’t indicated whether it will pursue Axalta, the people said.