Axalta and AkzoNobel End Merger of Equals Discussions
November 21 2017 - 4:29PM
Business Wire
Axalta Coating Systems (NYSE: AXTA), a leading global coatings
company, today confirmed that its previously announced talks with
AkzoNobel have ended regarding a potential merger of equals
transaction between Axalta and Akzo’s Paints and Coatings business,
as the companies were unable to reach mutually agreeable terms.
Axalta continues to pursue other value-creating alternatives.
“After pursuing a potential combination of Axalta and Akzo, we
concluded we could not negotiate a transaction on terms that meet
our criteria,” said Charles W. Shaver, Axalta’s Chairman and Chief
Executive Officer. “Any transaction we ultimately agree to needs to
generate superior long-term value for Axalta shareholders as
compared to the continued execution of our strategic plan.”
About Axalta
Axalta is a global leader in the coatings industry, providing
customers with innovative, colorful, beautiful and sustainable
coatings solutions. From light vehicles, commercial vehicles and
refinish applications to electric motors, building facades and
other industrial applications, our coatings are designed to prevent
corrosion, increase productivity and enhance durability. With more
than 150 years of experience in the coatings industry, the 13,300
people of Axalta continue to find ways to serve our more than
100,000 customers in 130 countries better every day with the finest
coatings, application systems and technology. For more information,
visit axaltacoatingsystems.com and follow us @Axalta on
Twitter.
Cautionary Statement Concerning Forward-Looking
Statements
This release may contain certain forward-looking statements
regarding Axalta and its subsidiaries including those relating to
Axalta’s pursuit of value-creating alternatives, including the
potential for a transaction. Forward-looking statements are based
on management’s expectations as well as estimates and assumptions
prepared by management that, although they believe to be
reasonable, are inherently uncertain. These statements may involve
risks and uncertainties, including, but not limited to, the
availability of any future value-creating transaction or
alternatives. Axalta undertakes no obligation to update or revise
any of the forward-looking statements contained herein, whether as
a result of new information, future events or otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20171121006074/en/
Axalta Coating SystemsInvestors:Christopher Mecray,
+1-215-255-7970Christopher.Mecray@axaltacs.comorMedia:Robert
Ferris, +1-215-255-7981Rob.Ferris@axaltacs.com
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