axalta coating systems merger

For Akzo Nobel, the breakdown in the talks with Axalta marks the end of a difficult year in which it rejected a 26 billion euro ($30.5 billion) takeover offer from PPG Industries Inc, in favor of a standalone plan. Investor Relations Contact. The Dutch company said Monday it’s in “constructive discussions” regarding a merger of equals with Axalta Coating Systems Ltd. to create a leading global paints and coatings maker. The news comes after AkzoNobel refused overtures … Nippon Paint confirmed it has made “a proposal” to Axalta but declined to give details, adding there is no assurance the two will reach any agreement. Covid-19 has hit its sales quite severely with revenue down around 40% compared to the same quarter last year. Axalta has secured a financing commitment for the transaction through Deutsche Bank AG New York Branch, subject to customary closing conditions. AkzoNobel and Axalta Coating Systems confirmed that the companies are engaged in “constructive discussions” regarding a merger of AkzoNobel’s Paints & Coatings unit with Axalta. On November 24, 2020, Axalta Coating Systems, LLC (the "Issuer"), an indirect, wholly owned subsidiary of Axalta Coating Systems Ltd. (the "Company"), issued $700.0 million in aggregate principal amount of 3.375% Senior Notes due 2029 (the "Notes"). The firm does business in 130 countries, has nearly 13,000 employees, and has more than 100,000 customers. Akzo Nobel confirmed the news via a press release minutes after our headlines and story ran. Akzo Nobel and Axalta Coating Systems confirmed are in talks to join forces in a merger of equals that would create a multibillion-dollar coating and paints giant. AKZONOBEL, AXALTA IN MERGER TALKS AkzoNobel and Axalta Coating Systems have confirmed they are in talks to merge into a $30-billion per year manufacturing entity. Our liquid and powder coatings are designed to deliver maximum performance for medium and heavy-duty trucks, buses, trailers, emergency vehicles, and more. The combination of the two companies could have boosted profit growth by lowering raw material costs, eliminating overlapping operations, expanding the combined entity’s products and adding new customers. The Dutch company said Monday it’s in “constructive discussions” regarding a merger of equals with Axalta Coating Systems Ltd. to create a leading global paints and coatings maker. Axalta is a leading global coatings provider dedicated to the development, manufacturing, delivery, and service of liquid and powder coatings. Since PPG walked away in June, former Akzo Nobel CEO Ton Buechner and former CFO Maëlys Castella have resigned, citing health reasons, while Chairman Antony Burgmans is due to retire in April. Reuters reported Downtown-based PPG could partner with private equity firm Clayton, Dubilier & Rice to acquire Warren Buffett-backed Axalta. Christopher Mecray - VP Investor Relations, Treasury & Strategy (215) 255-7970 christopher.mecray@axalta.com In the third quarter, Amsterdam-based Akzo reported a 13% drop in adjusted operating profit, hurt in part by higher raw material costs. Nippon Paint shares fell 4.5 percent on Wednesday morning before trade was suspended in the wake of the Reuters report. In March, Nippon Paint acquired U.S. paint company Dunn-Edwards Corp for $608 million. Axalta Coating Systems Ltd. is in merger discussions with AkzoNobel, a painting and coatings company based in Amsterdam with a presence in … Axalta Coating Systems to Acquire Valspar's North American Industrial Wood Coatings Business 4/12/2017 PHILADELPHIA --(BUSINESS WIRE)-- Axalta Coating Systems (NYSE:AXTA), a leading global supplier of liquid and powder coatings, announced today that it has entered into a definitive agreement with The Valspar Corporation (NYSE:VAL) and The Sherwin-Williams Company (NYSE:SHW) to acquire … See here for a complete list of exchanges and delays. Christopher Mecray - VP Investor Relations, Treasury & Strategy (215) 255-7970 christopher.mecray@axalta.com Axalta Coating Systems Ltd. got hit hard by the coronavirus selloff, but has since recovered quite a bit of lost ground.The company is currently selling not too far from its initial public offering price in 2014. Axalta Coating Systems Investors Christopher Mecray, +1-215-255-7970 Christopher.Mecray@axaltacs.com or Media Robert Ferris, +1-215-255-7981 Rob.Ferris@axaltacs.com Site Navigation Home NEW YORK/AMSTERDAM (Reuters) - Nippon Paint Holdings Co Ltd made an all-cash offer on Tuesday to acquire U.S. coatings company Axalta Coating Systems Ltd, two people familiar with the matter said, ending merger talks between Axalta and Dutch peer Akzo Nobel. Akzo Nobel NV and U.S. rival Axalta Coating Systems have abandoned their merger talks after failing to reach an agreement on terms around structuring the deal and other issues, according to a person familiar with the matter. The failure of the talks comes days before Akzo Nobel’s shareholders are to meet on Nov. 30 to approve the demerger of its specialty chemicals arms. (RTTNews) - Responding to market speculation, Axalta Coating Systems (AXTA) Monday confirmed that it is engaged in discussions with AkzoNobel (AKZOY.PK, AKZOY) regarding a potential merger … The day after Axalta Coating Systems Ltd. said it called off merger talks with AkzoNobel, the Philadelphia company confirmed it has entered into … Axalta Coating Systems has acquired United Paint and Chemical Corp.'s automotive interior coatings business. Antimicrobial Coating Market Will Generate Massive Revenue In Future: Axalta Coating Systems, AkzoNobel, BASF, PPG Industries, RPM International, Sherwin-Williams. The Osaka-based company has previously expressed a desire to expand in the United States and Europe to become a “global paint major”. The two companies could not reach an agreement with regard to a potential merger. Mar 2018 – Present 2 years 5 months. Axalta Coating Systems Ltd., the car-paint maker exploring a sale, has drawn preliminary interest from rival companies, according to people familiar with the matter. About Axalta Coating Systems Axalta is a leading global company focused solely on coatings and providing customers with innovative, colorful, Email * Nippon Paint Holdings Co Ltd made an all-cash offer on Tuesday to acquire U.S. coatings company Axalta Coating Systems Ltd, two people familiar … Axalta, which has headquarters in Philadelphia, is the world’s largest maker of auto refinish paints, with a market value of $8.1 billion. Akzo Nobel NV and U.S. rival Axalta Coating Systems have abandoned their merger talks after failing to reach an agreement on terms around structuring the deal and other issues, according to a person familiar with the matter. Breaking the story Ben Dummett was first with the news that Akzo Nobel NV and U.S. rival Axalta Coating Systems were unable to agree on the terms of their structuring deal and subsequently ended merger talks, according to sources. Akzo Nobel NV and Axalta Coating Systems Abandon Merger Talks – Source, Akzo and Axalta Fail to Agree Terms on Structuring Deal, Other Issues – Source, Akzo Nobel and Axalta Coating Systems Abandon Merger Talks. Axalta provides coating solutions for commercial vehicles that are built to withstand even the harshest conditions. This … Axalta Coating Systems Ltd. 3 Axalta – A Leader in Coatings Segments Performance Coatings 59% of Sales Transportation Coatings 41% of Sales End-Markets Focus Areas Body Shops Electrical Insulation, Architectural, Oil and Gas, General Industrial Net Sales1 $4,376 million Adjusted EBITDA1,2 $833 million Adjusted EBITDA Margin3 19.0% Light Vehicle / Meanwhile, Axalta posted a 20% drop in adjusted net income in the same period, amid lower volumes in North America. The deal, valued at approximately $420 million in cash, comes in connection with the reviews by the Federal Trade Commission and Canadian Competition Bureau regarding … Axalta Coating Systems Ltd. to create a leading global paints and coatings maker. Axalta shares reversed losses in extended trading hours in New York after Reuters reported on Nippon’s offer, to trade up 3.3 percent at $35.01. Axalta Coating Systems, which belongs to the Zacks Chemical - Specialty industry, posted revenues of $1.11 billion for the quarter ended September 2019, missing the Zacks Consensus Estimate by 0.83%. Please fill in the required field. Akzo Nobel NV and U.S. rival Axalta Coating Systems Ltd. are considering a possible merger of equals that would create a multibillion-dollar coating and paints giant, according to a person familiar with the matter. Axalta first entered talks with Dutch rival Akzo Nobel in October 2017 over a potential $30bn merger between the two companies. Axalta, which has headquarters in Philadelphia, is the world’s largest maker of auto refinish paints, with a … Ben Dummett was first with the news that Akzo Nobel NV and U.S. rival Axalta Coating Systems were unable to agree on the terms of their structuring deal and subsequently ended merger talks, according to sources. Axalta Coating Systems Ltd. (NYSE:AXTA) went up by 2.10% from its latest closing price compared to the recent 1-year high of $31.26. Akzo Nobel’s new CEO, Thierry Vanlancker, said in a statement on Tuesday the company remained focused on the strategy developed under Buechner and Burgmans. Nippon Paint, Japan’s biggest paint supplier and 39 percent owned by Singapore-based investment company Wuthelam Holdings Ltd, made the all-cash offer at a premium to where Axalta shares ended on Monday at $33.54, one of the sources said. Axalta recently reported its second-quarter numbers. Axalta Coating Systems said on Thursday that talks with Japan's Nippon Paint Holdings Co Ltd about a potential takeover of the U.S. coatings company have ended. Axalta Coating Systems (NYSE: AXTA) has made an agreement with The Valspar Corp. (NYSE: VAL) and The Sherwin-Williams Co. (NYSE: SHW) to acquire Valspar’s North American industrial wood coatings business. Industrial/Mergers & Acquisitions Analyst Axalta Coating Systems. AXALTA COATING SYSTEMS LTD. : News, information and stories for AXALTA COATING SYSTEMS LTD. | Nyse: AXTA | Nyse Akzo said in a statement it would now continue to pursue that strategy of selling or seeking a stock market listing for its specialty chemicals division, which has an estimated value of up to 10 billion euros. Axalta Coating Systems is a coatings company headquartered in Philadelphia, PA and incorporated in Bermuda that develops and manufactures coatings for light and commercial vehicles, industrial, and refinish applications. All quotes delayed a minimum of 15 minutes. Investor Relations Contact. Axalta has a market capitalization of $8.2 billion while Nippon Paint has a market capitalization of 1.2 trillion yen ($10.7 billion). Advertisement By Akzo Nobel NV and Axalta Coating Systems Abandon Merger Talks. The offer was credible enough for Axalta to end negotiations with Akzo Nobel, the source added. The report considers 2017-2018 as historical years, … AkzoNobel NV has called off its planned merger with Axalta Coating Systems Ltd - Get Report after that company confirmed mid reports that Japan's Nippon Paint … In a news release, Axalta officials say they are “engaged in discussions with AkzoNobel regarding a potential merger of equals transaction between Axalta and Akzo’s Paints & Coatings business. For Nippon Paint, an Axalta deal would help it crack open the U.S. market and boost earnings from automotive coatings, SMBC Nikko Securities analyst Shinobu Takeuchi wrote in a note to clients on Wednesday. Our Standards: The Thomson Reuters Trust Principles. Akzo Nobel NV and U.S. rival Axalta Coating Systems Ltd. confirmed Monday they are in talks to join forces in a merger of equals that would create a multibillion-dollar coating and paints giant. Chesterton Company KC Jones Plating Company OM Sangyo. Axalta recently reported its second-quarter numbers. Jun 2013 – Jan 2018 4 years 8 months. Akzo Nobel promised to return the “vast majority of proceeds to shareholders”. “However, we would focus on how the firm plans to execute an all-cash buyout, which would demand considerable capital,” the Tokyo-based analyst said. Akzo Nobel NV and U.S. rival Axalta Coating Systems Ltd. are considering a possible merger of equals that would create a multibillion-dollar coating and paints giant, according to a person familiar with the matter. Akzo Nobel and Axalta Coating Systems confirmed are in talks to join forces in a merger of equals that would create a multibillion-dollar coating and paints giant. By clicking submit, I agree to the Privacy Policy and Cookie Policy and I understand I will receive marketing communications from Dow Jones professional information products from which I may unsubscribe using the links provided. It was not clear how far the negotiations with Nippon Paint would progress, and Axalta could also choose to engage in deal talks with other interested parties, the second source said. The company’s stock price has collected 2.53% of gains in the last five trading sessions. for-phone-only for-tablet-portrait-up for-tablet-landscape-up for-desktop-up for-wide-desktop-up Axalta Coating Systems Ltd., the car-paint maker exploring a sale, has drawn preliminary interest from rival companies, according to people familiar with the matter. Industries ranging from automotive to mining use coatings to prevent corrosion and improve durability. Axalta will pursue such a transaction only if its Board of Directors determines that it is in the best interest of Axalta to do so. Akzo Nobel NV and U.S. rival Axalta Coating Systems Ltd. confirmed Monday they are in talks to join forces in a merger of equals that would create a multibillion-dollar coating and paints giant. Reporting by Greg Roumeliotis in New York and Toby Sterling in Amsterdam; Additional reporting by Taiga Uranaka in Tokyo; Editing by Clive McKeef and Stephen Coates. Now Akzo and Axalta face that challenge as separate companies at a time of rising raw material costs and sluggish demand. Axalta Coating Systems (NYSE: AXTA), a leading global coatings company, today confirmed that its previously announced talks with AkzoNobel have ended . The report covers the global Composite Coatings Market size in terms of value chain, production and consumption quota. The Dutch company said Monday it’s in “constructive discussions” regarding a merger of equals with Axalta Coating Systems Ltd. to create a leading global paints and coatings maker. Axalta Coating Systems Ltd (NYSE: AXTA) shares were rising Wednesday on above-average volume after the company announced its intention to explore strategic options.. What Happened. Axalta Industrial North America, Houston, Texas. AkzoNobel and Axalta Coating Systems confirmed that the companies are engaged in “constructive discussions” regarding a merger of AkzoNobel’s Paints & Coatings unit with Axalta. Axalta Coating Systems Ltd. got hit hard by the coronavirus selloff, but has since recovered quite a bit of lost ground. Axalta and Akzo Nobel said earlier on Tuesday they had ended negotiations about a “merger of equals” because they were unable to reach terms. 16K likes. Axalta, whose largest shareholder is Warren Buffett’s Berkshire Hathaway Inc, said it continued to pursue other “value-creating alternatives” although it did not disclose Nippon Paint’s role, if any, in the termination of the discussions. Each restricted stock unit represents a contingent right to receive one common share of Axalta Coating Systems Ltd. 9. 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