# AkzoNobel and Axalta to merge in $17B all-stock deal

AkzoNobel and Axalta Coating Systems agreed to an all-stock merger creating a global paint giant with a combined market value of about $17 billion. AkzoNobel shareholders will own 55% of the enlarged group.

- Type: Acquisition
- Announced: 2025-11-18
- Where: United States
- Value: $25.0B
- Status: announced
- Products: paints, coatings
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [AkzoNobel](https://endata.com/companies/11242.md)
- [AkzoNobel](https://endata.com/companies/11242.md) (acquirer)
- [Axalta Coating Systems](https://endata.com/companies/19638.md) (target)
- [Axalta](https://endata.com/companies/25499.md) (target)

## Sources

- [wsj.com](https://www.wsj.com/business/deals/akzonobel-axalta-to-merge-in-25-billion-all-stock-deal-including-debt-0697d782), 2025-11-18: "The merger is set to bring together Amsterdam-based AkzoNobel, which has a market capitalization of 9.7 billion euros ($11.24 billion), with Philadelphia-headquartered Axalta, valued at $6 billion."
- [pfonline.com](https://www.pfonline.com/news/akzonobel-axalta-to-merger-into-25-billion-coatings-giant), 2025-11-19: "This combination represents a compelling opportunity. It’s a great value proposition for all our stakeholders, both in the Netherlands — where we maintain our domicile — and internationally, including our shareholders, customers and employees."
- [chemistryworld.com](https://www.chemistryworld.com/news/akzonobel-axalta-merger-gives-coatings-firm-extra-layers/4022614.article), 2025-12-02: "The firms touted complementary portfolios and estimated around $600 million in projected cost savings."
- [chemeurope.com](https://www.chemeurope.com/en/news/business/akzonobel/order_rn/), 2025-12-12: "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."

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