PPG’s Request for Extension of Akzo Offer Deadline Likely to Fail

PPG’s request for an extension of the June 1 deadline to submit a formal offer for AkzoNobel, or face a six-month prohibition on making an offer, is likely to be rejected, threefeatured

Valspar/Sherwin Williams Remedy Package Judged Sufficient by Sources

The Valspar/Sherwin-Williams merger will be approved by the Federal Trade Commission, with a remedy package along the lines of the divestiture to Axalta that Sherwin previouslyfeatured

Akzo Confident in Refuting Shareholder Arguments in Court

Akzo Nobel is confident that the Enterprise Chamber in Amsterdam on Monday will find that it acted correctly in not granting the request for an extraordinary shareholders meeting fromfeatured

Former Dutch Senator Doubts PPG Goes Hostile

With additional reporting by Rachel Rigby – A former member of the Senate of the Netherlands told CTFN that he doubts that PPG will go hostile with its offer for AkzoNobel, because it wouldfeatured

AkzoNobel and Shareholders Likely Headed to Dutch Court

The question of what specific agenda items will be voted on at an extraordinary general meeting, if AkzoNobel honors the meeting request of shareholders led by Elliott Advisors, could end up infeatured

Valspar/Sherwin-Williams Appear On Track for First Quarter Close

The Valspar/Sherwin-Williams deal could be cleared relatively soon by the Federal Trade Commission, with limited divestitures, according to several antitrust attorneys. “Talks have been productive,” said one attorney with knowledge of the situation, referring to remedy discussions between thefeatured

Brazil Anti-Corruption Law Hinders Odebrecht Divestment Process

Updated with comments from the company – Troubled, family-owned Brazilian conglomerate Odebrecht, which is engulfed in the country’s largest corruption scandal, is looking to divest all of its assets except for petrochemical company Braskem and construction business Construtora Norberto Odebrecht, sources close to the company told CTFN. “Odebrecht is divesting a lot. Their aim is … Read Morefeatured

Valspar/Sherwin Williams Merger Will Trigger European M&A

EU regulators are likely to clear the $9.3 billion merger between Ohio-based paints and coatings specialist Sherwin-Williams and Minnesota peer Valspar, although the deal will pave the way for further M&A activity among European rivals. “[The merger] will go through,” Wolfgang Regele, an M&A advisor who specializes in the chemical, paper, and packagingfeatured

Axiall Faces Limited Options as Westlake Closes In

A former Axiall executive told CTFN that the company has few options beyond the recent hostile bid from Westlake Chemical. He said that Axiall’s board probably has a “magic number” that it would like Westlake to reach before the deal could ultimately turn friendly.featured

Westlake Pursues Axiall as Polyethylene Faces Supply Surge

Westlake Chemical’s fight to replace the board of Axiall comes as excess polyethylene capacity floods the global marketplace, two industry observers tell CTFN, raising questions about the outlook for polyethylene manufacturers. “The polyethylene business will be heading into the dumpster pretty soon,” said Phil Karig, a plastics industry supply chain andfeatured

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