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Akzo Nobel Can Kick And Scream But PPG Could Get It's way!

Ton Buechner, chief executive officer of Akzo Nobel NV, gestures as he speaks during an interview at the company's headquarters in Amsterdam, Netherlands, on Tuesday, Jan. 10, 2017. Buechner is eschewing the splashy mega-deals that are transforming U.S. competitors such as Sherwin-Williams Co. and Dow Chemical Co. in favor of discipline and smaller operational changes. Photographer: Jasper Juinen/Bloomberg

Dutch paints and specialty chemicals group Akzo Nobel rejected a second offer by PPG, saying it significantly undervalued the company and carried significant uncertainty and risks.

Akzo Nobel itself wants to separate its specialty chemicals business and concentrate on paints, also the focus of PPG. Akzo Nobel says that there were a lot of execution risks and anti-trust issues connected to any PPG deal and expected substantial divestures and significant job cuts.

“We are convinced that AkzoNobel is best placed to unlock the value within our company ourselves. We are executing our plan, including the creation of two focused businesses and new cost structure, and believe this gives us a strong platform for continued profitability and long term value creation for all our stakeholders with substantially less execution risks.” Akzo Nobel CEO Ton Büchner said in a statement.  MORE