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.
The company reports it has a proven and demonstrated record of executing on strategic actions and driving performance and growth, and states that it continues to believe that a combination of PPG and AkzoNobel is in the best interest of all stakeholders. PPG says it believes that the combined company will be much better positioned to take advantage of the opportunities in their current markets and will deliver superior shareholder returns.
Top 5 News that Sticks for April 30-May 6
1. PPG Issues Statement on Proposal to Combine Business with AkzoNobel