Market Overview

PPG to Acquire AkzoNobel North American Architectural Coatings Business for $1.05B

PPG Industries (NYSE: PPG) today announced that it has reached a
definitive agreement to acquire the North American architectural
coatings business of AkzoNobel, N.V., Amsterdam, in a deal valued at
$1.05 billion. The transaction has been approved by the boards of
directors of both companies and is expected to close in early second
quarter 2013, subject to regulatory approvals.

“This acquisition continues the accelerated pace of our business
portfolio transformation through further expansion of our coatings
businesses,” said Charles E. Bunch, PPG chairman and CEO. “It is also an
attractive way to significantly increase our scale in the North American
architectural paint market, which we anticipate will benefit from a
prolonged construction market recovery.”

See full press release

Posted-In: Earnings News Guidance Management M&A

 

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