Tokyo, July 13 (Jiji Press)–Nippon Paint Holdings Co. said Monday that it has offered to acquire the decorative paints business of Dutch paint maker Akzo Nobel NV for 7.5 billion euros. The move came after a joint offer made in April by the Japanese company and U.S. paint maker Sherwin-Williams Co. to acquire all Akzo shares was rejected. In November last year, Akzo announced a plan to merge with U.S. coatings maker Axalta Coating Systems Ltd. Nippon Paint made the fresh offer alone. No further decisions have been made about the proposed acquisition, it said. END [Copyright The Jiji Press, Ltd.]
Nippon Paint Offers to Buy Dutch Firm’s Decorative Paints Biz
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