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AkzoNobel Announces PPG has Withdrawn Acquisition Proposal

AkzoNobel CEO Ton Büchner says company will focus on pursuing its strategy of accelerating sustainable growth and profitability.

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In a June 1 conference call, AkzoNobel CEO Ton Büchner addressed the recent announcement that PPG has withdrawn its acquisition proposal and will not pursue an offer for AkzoNobel.

“We continue to focus on our business, pursuing our strategy of accelerating sustainable growth and profitability and creating two focused, high-performing businesses: Paints and Coatings and Specialty Chemicals,” Büchner said. “We believe this will lead to a step change in growth and long-term value creation for our shareholders and all other stakeholders.

“Our talented teams around the world continue to develop, produce and deliver the most innovative and sustainable products and services for our customers, and I would like to thank all colleagues for their ongoing commitment. We reiterate our commitment to maintain an open and constructive dialogue with our shareholders and all other stakeholders.”

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