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BRIEF-PPG makes revised proposal to combine with Akzonobel
March 22, 2017 / 12:22 PM / 9 months ago

BRIEF-PPG makes revised proposal to combine with Akzonobel

March 22 (Reuters) - PPG Industries Inc:

* Press release - PPG makes revised proposal to combine with Akzonobel

* PPG Industries Inc - proposal of eur90.00 per ordinary share of Akzonobel

* PPG Industries- including assumption of net debt and minority interests, proposed transaction is valued at approximately eur24.5 billion, or $26.3 billion

* PPG Industries - PPG’s revised proposal reflects annual run rate synergies of at least $750 million, which could be achieved from combination of two companies

* PPG Industries Inc - “PPG continues to believe that its initial proposal presented a unique and compelling value for Akzonobel and its shareholders”

* PPG Industries Inc - “PPG remains willing to meet with Akzonobel”

* Revised proposal is comprised of cash of eur57.50 and 0.331 share of PPG common stock

* PPG - submitted proposal to boards of Akzonobel to combine their respective businesses by way of public offer for all ordinary shares of Akzonobel Source text for Eikon: Further company coverage:

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