NPCPF - Nippon Paint Holdings Co., Ltd.
AkzoNobel is nearing a deal to sell its south-east Asian decorative paints business to Nippon Paint for well over $1 billion, the Financial Times reported on Sunday citing people familiar with the matter.
The move for the Akzo unit follows an earlier attempt by Nippon Paint to buy the group as a whole and split it with Sherwin-Williams.
Nippon Paint has made multiple offers for Akzo Nobel's decorative paints business in the past month, including a proposal valuing the unit at about 7.5 billion euros ($8.55 billion) last week, Bloomberg News reported on Sunday, citing people familiar with the matter.
AkzoNobel shares were down 19% after Nippon Paint and Sherwin-Williams ended their pursuit of the company.
TOKYO and CLEVELAND, June 3, 2026 /PRNewswire/ -- Nippon Paint Group and Sherwin-Williams today announced that they have decided to end their efforts to jointly acquire AkzoNobel. The decision follows AkzoNobel's previously disclosed rejection of both joint all-cash offers put forward by Nippon Paint and Sherwin-Williams.
TOKYO and CLEVELAND, May 27, 2026 /PRNewswire/ -- Nippon Paint Group and Sherwin-Williams note today's press release issued by AkzoNobel regarding their proposal to acquire all of the issued and outstanding shares of AkzoNobel (the "Joint Proposal"). The Joint Proposal was rejected by the Boards of AkzoNobel, and Nippon Paint Group and Sherwin-Williams are considering their next steps, if any.
Shares of AkzoNobel surged on Wednesday after the Dutch paints and coatings maker disclosed that it had rejected a €12.49 billion ($14.53 billion) takeover proposal from Japan's Nippon Paint Holdings and US-based Sherwin-Williams. The stock climbed as much as 17% in early European trading to 61.38 euros, wiping out losses accumulated earlier this year, after investors reacted positively to the premium implied in the rejected proposal.
The paint maker said it was sticking to its plan to combine with Axalta Coating Systems.
Dulux paint maker AkzoNobel has rejected a cash takeover offer of €73 ($85) per share from rivals Nippon Paint and Sherwin-Williams , the Dutch company said on Wednesday, sending its shares 16% higher.
Nippon Paint Holdings Co., Ltd. (NPPHY) Q4 2025 Earnings Call Transcript