PPG: AkzoNobel independence plan is risky

Staff Writer | April 17, 2017

PPG Industries, trying to buy Dutch peer AkzoNobel for $26.1 billion, said that Akzo's plan to instead spin off its chemicals arm and remain independent is riskier and would create less value.

Acquisition Akzo is due to outline its plan on Wednesday

In an open letter addressed to Akzo's "stakeholders", CEO Michael McGarry urged Akzo's management and supervisory boards to enter talks, saying they had so far given insufficient consideration to PPG's proposal, which is favored by many of Akzo's own shareholders.

Akzo is due to outline details of its alternative plan on Wednesday. ■

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