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Akzo Nobel's Merger Plan With Axalta Set to Create PPG Deterrent

  • Dutch paintmaker unveils plan for combination with U.S. rival
  • Akzo Nobel is under pressure because PPG could renew bid
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Akzo Confirms Merger Talks With U.S. Rival Axalta

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Akzo Nobel NV is exploring a combination with the biggest maker of car coatings, almost doubling the size of its paint business in a bid to create a deterrent should PPG Industries Inc. attempt another takeover as early as December.

The Dutch company said Monday it’s in “constructive discussions” regarding a merger of equals with Axalta Coating Systems Ltd. to create a leading global paints and coatings maker. Axalta, which has headquarters in Philadelphia, is the world’s largest maker of auto refinish paints, with a market value of $8.1 billion.