Akzo Nobel (AKZO) Shares Drop 19% After Failed Takeover Negotiations
Published on · Source: cnbc.com
AI Summary
Summarized by AI from the source belowShares of Akzo Nobel (AKZO) fell 19% following the collapse of takeover talks with Nippon Paint and Sherwin-Williams. The companies had previously made a joint cash offer of 73 euros ($85) per share, which Akzo Nobel rejected, stating it did not reflect its value or long-term prospects. Nippon Paint and Sherwin-Williams confirmed they were no longer pursuing a public offer. This decline contributes to a broader sell-off in European stocks, with the pan-European Stoxx 600 index down 0.23%.
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About The Sherwin-Williams Company (SHW)
Sherwin-Williams is the largest U.S. maker of paints and coatings.
The Materials sector covers chemical, metal, mining and packaging companies that supply raw inputs.
Earlier SHW news
- Nippon Paint (NP) and Sherwin-Williams (SHW) End Takeover Pursuit
- AkzoNobel (AKZO) Stock Rises 15.1% After Rejected Takeover Bid
- Sherwin-Williams (SHW) Beats Earnings Forecasts Yet Stock Slides
- Sherwin-Williams (SHW) Reports Increased Profit, Cites DIY Market Weakness
- Sherwin-Williams (SHW) Reports Q4 2024 Earnings with Key Metrics
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