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Akzo Nobel concedes to PPG in battle over Finland's Tikkurila

AMSTERDAM, Feb 8 (Reuters) - Dutch paints and coatings maker Akzo Nobel on Monday withdrew its 1.4 billion euro ($1.68 billion) bid for its Finnish peer Tikkurila, four days after U.S. rival PPG Industries had topped its bid.

“The intended acquisition of Tikkurila can no longer compete with more attractive opportunities to create value,” Chief Executive Thierry Vanlancker said in a statement.

$1 = 0.8312 euros Reporting by Bart Meijer; Editing by Edmund Blair

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