AMSTERDAM, March 23 Paint maker PPG has
made a "very compelling" offer for Akzo Nobel and was
shocked when its Dutch rival turned it down, PPG's chief
executive Michael McGarry said on Thursday on a visit to
Amsterdam to drum up support for a proposed tie-up.
McGarry said he would meet Akzo shareholders during the
visit and was prepared to meet Akzo's boards "any time, any
place" to discuss its 22.7 billion euro ($24.47 billion)
takeover offer. He disputed Akzo's view that the two companies'
cultures were ill-matched.
Asked to comment on a possible hostile bid, McGarry said he
wanted to "work together" with Akzo.
($1 = 0.9276 euros)
(Reporting By Toby Sterling, writing by Thomas Escritt. Editing
by Jane Merriman)