May 30 Dutch financial regulator AFM has
informed U.S. coatings maker PPG Industries Inc that it
will not extend the June 1 deadline for making a tender offer
for Dutch paint maker Akzo Nobel, people familiar with
the matter said on Tuesday.
The move means PPG has to decide by June 1 on whether to
launch a bid for Akzo Nobel's shares, or walk away for six
months. PPG's board met on Tuesday to discuss its options, the
sources said, asking not to be identified because AFM has not
made its decision public.
AFM spokeswoman Celeste de Wit said she was not aware of any
decision. PPG and Akzo Nobel declined to comment.
(Reporting by Greg Roumeliotis in New York; Editing by Lisa