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Akzo Nobel Rejects Nippon Paint €7.5 Billion Offer for Decorative Paints Unit
Akzo Nobel turned down a €7.5 billion bid from Nippon Paint Holdings for its decorative paints business. The Dutch company said the offer undervalues the unit and reaffirmed its planned merger with Axalta Coating Systems.
Jul 13, 4:29 AM·1m read1 source
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Akzo Nobel rejected an unsolicited €7.5 billion ($8.6 billion) offer from Nippon Paint Holdings for its decorative paints business. The Dutch company said the proposal undervalues the unit. Akzo Nobel’s management and supervisory boards continue to unanimously recommend the merger with Axalta Coating Systems, which was announced in November 2025.
That deal would create a paint maker with an enterprise value of about $25 billion, the company stated. Nippon Paint Holdings made multiple approaches before submitting the latest bid, Japan Times reported. Akzo Nobel’s board reviewed the offer and concluded it did not represent adequate value for the decorative paints operations.
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