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Axalta Shares Trade Higher Following Report Of Strategic Interest

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Axalta Coating Systems Ltd (NYSE: AXTA) shares are trading higher after reports of interest from Akzo Nobel, Kasai and PPG has been expressed.

According to a Reuters report in June, Axalta had formed a board committee to explore a sale of the company. The company's largest shareholder is Warren Buffett’s Berkshire Hathaway (NYSE: BRK-A)

“The move was driven by the company’s desire to proactively stay on top of a wave of consolidation sweeping the paints and coatings industry,” according to Reuters.

Axalta shares spiked as much as 5% Thursday and were up about 2.2% to $30.88 at time of publication. The stock has a 52-week high of $32.14 and a 52-week low of $21.58.

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