(Reuters) — Japanese Nippon Paint has offered to buy Dutch AkzoNobel’s decorative paints business for 7.5 billion euros ($8.55 billion), the company said on Monday.<\/p>\n
Nippon Paint had previously sought to buy AkzoNobel’s entire business along with U.S.-based Sherwin-Williams for 12.5 billion euros, but the bid was rejected in May, after which the two withdrew their offer.<\/p>\n
AkzoNobel did not respond to a request for comment outside regular business hours. No specific matters regarding the acquisition have been decided, Nippon Paint said.<\/p>\n
The approach was first reported by Bloomberg News on Sunday.<\/p>\n
Nippon Paint has made multiple offers in the past month, but AkzoNobel neither informed shareholders nor engaged on the 7.5 billion-euro proposal put forward last week, Bloomberg News reported, citing people familiar with the matter.<\/p>\n
AkzoNobel, which makes Dulux brand paints, had said Nippon Paint and Sherwin-Williams’ bid to take over the entire company undervalued its business, lacked certainty on regulatory clearances and would split the company between two suitors.<\/p>\n
Instead, it is pushing ahead with an earlier plan to merge with U.S. coatings maker Axalta; those two companies are to hold shareholders meetings to vote on the merger on Aug. 5.<\/p>\n
Paint makers are pursuing mergers to save money amid rising costs, intense competition and uncertainty sparked by U.S. President Donald Trump’s tariffs.<\/p>\n","protected":false},"excerpt":{"rendered":"(Reuters) — Japanese Nippon Paint has offered to buy Dutch AkzoNobel’s decorative paints business for 7.5 billion euros…\n","protected":false},"author":2,"featured_media":57261,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[37530,23437,37531,8,31,37529,26304,37532,36827],"class_list":["post-57260","post","type-post","status-publish","format-standard","has-post-thumbnail","category-japan","tag-86bn","tag-akzonobel","tag-decorative","tag-japan","tag-nippon","tag-offers","tag-paint","tag-paints","tag-unit"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/posts\/57260","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/comments?post=57260"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/posts\/57260\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/media\/57261"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/media?parent=57260"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/categories?post=57260"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/tags?post=57260"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}