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Stock impact report

Akzo Nobel rejects third takeover proposal from PPG [Reuters]

PPG Industries, Inc. (PPG) 
Last ppg industries, inc. earnings: 4/27 04:20 pm Check Earnings Report
US:NYSE Investor Relations: investor.ppg.com
Company Research Source: Reuters
FILE PHOTO: A view of AkzoNobel's headquarters in Amsterdam, February 6, 2014. REUTERS/Toussaint Kluiters/United Photos/File Photo By Toby Sterling | AMSTERDAM AMSTERDAM Dutch paint maker Akzo Nobel ( AKZO.AS ) on Monday rejected a third takeover proposal from larger U.S. rival PPG Industries ( PPG.N ), valued at 26.9 billion euros ($29.51 billion), saying it undervalues the company, faces antitrust risks, and does not address other concerns such as "cultural differences." A group of Akzo Nobel shareholders led by hedge fund Elliott Advisors who support a merger of the two companies have been pushing for talks, but Akzo said in a statement it would not engage in discussions with the U.S. company. PPG must now decide whether it will move to a formal bid ahead of a June 1 deadline under Dutch securities laws without support of Akzo's boards Show less Read more
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