# Akzo Nobel rejects PPG's takeover bid

Akzo Nobel rejected an unsolicited, non-binding proposal from PPG Industries to acquire the company for €83.00 per share, valuing Akzo at €20.9 billion. Akzo Nobel also announced it is considering spinning off its specialty chemicals unit.

- Type: Acquisition
- Announced: 2017-03-09
- Where: Netherlands
- Value: $22.1B (20.9B EUR)
- Status: announced
- Products: paints, coatings, specialty chemicals
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [PPG Industries](https://endata.com/companies/1219.md) (acquirer)
- [AkzoNobel](https://endata.com/companies/11242.md) (target)
- [Akzo Nobel](https://endata.com/companies/22737.md) (target)

## Sources

- [breakingthenews.net](https://breakingthenews.net/Article/akzo-nobel-declines-ppgs-takeover-bid/38021437), 2017-03-09: "The unsolicited proposal we received from PPG substantially undervalues our company and contains serious risks and uncertainties."
- [cen.acs.org](https://cen.acs.org/articles/95/i11/Rejecting-PPG-bid-AkzoNobel-exit.html), 2017-03-09: "AkzoNobel has rejected an unsolicited takeover offer from PPG Industries and says it will instead embark on a program to separate its specialty chemical business."
- [usglassmag.com](https://www.usglassmag.com/akzonobel-still-not-seeing-eye-to-eye-with-ppg-on-takeover-bid/), 2017-03-23: "This proposal significantly fails to recognize the value of AkzoNobel."

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