# AkzoNobel and Axalta to merge in all-stock deal, creating $25B coatings company

AkzoNobel and Axalta Coating Systems announced a definitive agreement to combine in an all-stock merger of equals, creating a premier global coatings company with an enterprise value of approximately $25 billion and combined 2024 revenues of about $17 billion.

- Type: Acquisition
- Announced: 2025-11-01
- Where: Netherlands
- Value: $25.0B
- Status: announced
- Products: coatings
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [Akzo Nobel](https://endata.com/companies/22737.md)
- [Axalta Coating Systems](https://endata.com/companies/19638.md) (target)
- [Akzo Nobel](https://endata.com/companies/22737.md) (acquirer)

## Sources

- [ir.axalta.com](https://ir.axalta.com/news/press-releases/detail/671/akzonobel-and-axalta-to-combine-in-all-stock-merger-of-equals-creating-a-premier-global-coatings-company), 2025-11-18: "The combination brings together two coatings industry leaders with complementary portfolios of highly regarded brands to better serve customers across key end markets and enhance value for shareholders, employees and other stakeholders."
- [sec.gov](https://www.sec.gov/Archives/edgar/data/1616862/000119312525285356/d45746d425.htm), 2025-11-18: "The Merger Agreement provides for, among other things, the combination of"
- [chemeurope.com](https://www.chemeurope.com/en/news/mergers/order_t/), 2025-11-19: "Akzo Nobel N.V. and Axalta Coating Systems Ltd. announced they’ve entered into a definitive agreement to combine in an all-stock merger of equals, creating a premier global coatings company with an enterprise value of approximately $25 billion."
- [ir.axalta.com](https://ir.axalta.com/sec-filings/all-sec-filings/content/0000950103-26-003844/dp243504_425.htm), 2026-03-16: "In November 2025, AkzoNobel and Axalta agreed to combine in an all-stock merger of equals"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.