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PPG says ready to address Akzo Nobel objections to offer
April 5, 2017 / 11:09 AM / 8 months ago

PPG says ready to address Akzo Nobel objections to offer

AMSTERDAM, April 5 (Reuters) - PPG Industries, the U.S. paints and coating makers that is trying to buy smaller Dutch peer Akzo Nobel, said on Wednesday it was ready to address various non-financial objections Akzo had raised about PPG’s offer.

On Tuesday, Akzo repeated its opposition to PPG’s 24.5 billion euro ($26.1 billion) offer, saying it would face antitrust difficulties and would be bad for employees. . A large number of Akzo shareholders have urged the management to enter discussions.

In a statement on Wednesday, PPG said it would address Akzo’s concerns, including commitments to research and development, employment terms, location of divisional headquarters, community investment and sustainability targets.

“We once again invite AkzoNobel to meet with us ... We are prepared to address all of AkzoNobel’s concerns in a collaborative and substantive manner,” PPG Michael McGarry said in a statement.

Reporting by Toby Sterling; Editing by Edmund Blair

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