Dec 18 (Reuters) - U.S.-based coatings maker PPG Industries has made an offer to buy Finnish paint producer Tikkurila for a total of 1.1 billion euros ($1.35 billion), the Finnish company said on Friday.
Tikkurila said that the offer represented a premium of about 66.2% to the company’s closing price on Thursday.
“The combination of PPG and Tikkurila is extremely complementary, both geographically and from a decorative brand perspective,” PPG Chief Executive Michael McGarry said.
$1 = 0.8162 euros Reporting by Boleslaw Lasocki. Editing by Jane Merriman