BUZZ-AkzoNobel rallies after rejecting 39% premium takeover approach

The Sherwin-Williams
Axalta Coating Systems

The Sherwin-Williams

SHW

0.00

Axalta Coating Systems

AXTA

0.00

** Shares in Dulux paint maker AkzoNobel AKZO.AS jump about 15% after the group rejected a cash offer from Nippon Paint 4612.T and Sherwin-Williams SHW.N

** The €73 ($85) per share offer represents a 39% premium to AkzoNobel's previous close of €52.52

** "Akzo considers its own merger proposal with Axalta AXTA.N to be superior and pushes ahead on this track," says KBC

** Shares on track for their best day since October 2008. At the previous close, the stock was down 11.3% YTD


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