SherwinWilliams News & Analysis

Akzo Nobel (AKZO) Shares Drop 19% After Failed Takeover Negotiations

Shares 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%.