PPG Updates On Its Proposal To Akzo Nobel - Quick Facts

(RTTNews) - PPG (PPG) confirmed that it made a comprehensive proposal to Akzo Nobel N.V. (AKZOY.PK, AKZOY) on March 2, 2017, inviting AkzoNobel to enter into negotiations on a potential transaction to form a combined company, which AkzoNobel rejected. PPG said the company continues to believe there is a strong strategic rationale for the proposed transaction and will carefully evaluate and consider its position and path forward related to its proposal.

Michael McGarry, chairman and CEO of PPG, said, "We are confident that this combination is in the best interests of the stakeholders of both companies as it presents a unique opportunity to build on the successful legacies of our businesses. PPG has carefully considered the interest of all AkzoNobel stakeholders including shareholders, employees, customers and the communities it serves and has proposed its willingness to enter into serious commitments in respect of all stakeholders."