Mergers/Acquisitions

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.

April 25, 2017

PPG has listened carefully to AkzoNobel's new strategic plan and continues to believe in the merits of combining the two companies.

Axalta Coating Systems to Acquire Valspar Wood Coatings Business

The business had revenues of approximately $225 million in 2016.

April 17, 2017

Axalta Coating Systems recently announced that it has entered into a definitive agreement to acquire the assets related to Valspar’s North American Industrial Wood Coatings business.

PPG Completes Ownership of IVC Joint Venture in Asia

The IVC joint venture was formed in 2008.

April 13, 2017

PPG recently announced that it has purchased the remaining 50% ownership interest in its Asian joint venture comprising IVC (Malaysia) Sdn Bhd and IVC-OPS (Singapore) Pte. Ltd.

PPG Reiterates Invitation to AkzoNobel to Discuss Merger

PPG recently announced it has reiterated its invitation to AkzoNobel to enter into discussions to explore PPG’s proposal to form a combined company.

April 7, 2017

PPG reportedly continues to believe that a combination of the two companies has a strong strategic rationale and presents a highly compelling and unique opportunity for both AkzoNobel and PPG and their respective stakeholders.

Grace Matthews Advises Applied Adhesives on Sale

The current management team has reportedly retained ownership in Applied.

March 28, 2017

Grace Matthews Inc. recently announced that Minneapolis-based Goldner Hawn Johnson and Morrison has acquired a majority position in Applied Adhesives.

PPG Revises Proposal to AkzoNobel

Including the assumption of net debt and minority interests.

March 24, 2017

PPG recently announced that it made a revised proposal on March 20 to acquire Akzo Nobel N.V.

AkzoNobel Rejects Second Unsolicited Proposal from PPG

The proposal reportedly not did not reflect the current and future value of AkzoNobel.

March 23, 2017

AkzoNobel recently announced it has rejected a second unsolicited, non-binding and conditional proposal of March 20 from PPG Industries Inc. for all of the issued and outstanding ordinary shares in the capital of AkzoNobel.

Chromaflo Acquires Elementis’ Colorants Business

The acquisition became effective March 17.

March 22, 2017

Chromaflo Technologies Corp. recently announced it has concluded a purchase agreement with Elementis Specialties Inc.

Henkel Enters Bid to Acquire Darex Packaging Technologies Business

Henkel has reportedly submitted a binding offer for the business.

March 6, 2017

Henkel recently announced it has entered into exclusive negotiations with GCP Applied Technologies to acquire its global Darex Packaging Technologies business.

Accella to Purchase Covestro Spray Polyurethane Assets

Accella Polyurethane Systems LLC recently announced it has agreed to purchase certain assets of Covestro LLC’s North American spray polyurethane foam (SPF) business.

February 28, 2017

The sale is scheduled to be completed in the second quarter.