PPG Issues Statement on Proposal to Combine Business with AkzoNobel
PPG recently issued the following statement in connection with its proposal to AkzoNobel to form a combined company.
PPG recently issued a statement in connection with its proposal to AkzoNobel to form a combined company.
In the proposal, the company states that it has listened carefully to AkzoNobel's new strategic plan, and it continues to believe in the merits of combining the two companies. PPG reportedly believes that AkzoNobel’s new strategic plan will be more risky and create more uncertainty for AkzoNobel stakeholders including employees and pensioners, as Akzo's revised strategy would create two smaller, unproven companies and result in additional restructuring.