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The Economic Times

Nippon Paint offers $8.6 billion for AkzoNobel unit, Bloomberg News reports

AkzoNobel Nippon Paint Axalta SherwinWilliams United States Mergers

Nippon Paint has made multiple offers for AkzoNobel's decorative paints business in the past month, including a proposal valuing the unit at €7.5 billion ($8.55 billion) last week, Bloomberg News reported on Sunday, citing people familiar with the matter.

Nippon Paint had ‌previously sought ⁠to ⁠buy AkzoNobel's entire business along with U.S.-based Sherwin-Williams for €12.5 billion, but the bid was rejected in May, after which the two withdrew their offer.

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