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Akzo Nobel Completes ICI Acquisition …

2:36 PM MST | January 14, 2008 | Chemical Week Editorial Staff

Wijers: Confirming savings target. Akzo Nobel says it has completed its £8.1-billion ($16 billion) acquisition of ICI, which had canceled its shares and ceased trading on the London Stock Exchange (LSE; London) on January 3. ICI shares were already de-listed from LSE on December 19. Under terms offered by Akzo, ICI shareholders are entitled to receive £6.7 ($13.3) for each ICI share held at the end of the day on December 19. Akzo CEO Hans Wijers has confirmed that the company expects cost synergies of €280 million ($411.3 million) from the deal...

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