Akzo Nobel rejects third takeover proposal from PPG
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May 10, 2017 6:38 AM EDT
PPG (NYSE: PPG) today issued the following statement in connection with its proposal to AkzoNobel (AKZA.AS:AKZOY) to form a combined company:
PPG has reviewed AkzoNobels May 8, 2017 response to PPGs revised proposal of April 24, 2017. PPG continues to believe that its proposal is vastly superior in shareholder value creation compared to AkzoNobels new standalone plan and that a combination of the two companies is in the best interests of all stakeholders, including employees.
We put forward an enhanced, detailed and thorough proposal to AkzoNobel on April 24 that... More
May 8, 2017 6:30 AM EDT
PPG (NYSE: PPG) today issued the following statement in connection with its proposal to AkzoNobel (AKZA.AS:AKZOY) to form a combined company:
PPG is disappointed that AkzoNobel has once again refused to enter into a negotiation regarding a combination of the two companies, ignoring the best interests of its stakeholders, including long-term shareholders who overwhelmingly support engagement. PPG can confirm that its Chairman and CEO Michael McGarry and its lead independent director Hugh Grant... More
