AkzoNobel rejects takeover offer from Nippon Paint, Sherwin-Williams

The Sherwin-Williams

The Sherwin-Williams

SHW

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May 27 (Reuters) - Dulux paint maker AkzoNobel AKZO.AS has rejected a joint cash takeover offer of €73 ($85) per share from rivals Nippon Paint 4612.T and Sherwin-Williams SHW.N, the Dutch company said on Wednesday.

The company said the non-binding proposal undervalued its business and lacked deal certainty, adding that its board continued to recommend the planned merger with Axalta.

($1 = 0.8593 euros)


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