Akzo Nobel to Acquire ICI for $16.1 Billion in Cash

Akzo Nobel has agreed to acquire ICI for £8.1 billion ($16.1 billion). ICI agreed to Akzo’s offer after rejecting two previous proposals from Akzo. Combining the companies will create the largest paints and coatings manufacturer, especially for industrial paints, and boost significantly Akzo’s market share in decorative coatings, the company says. The agreed offer is at £6.79/share, of which £6.70 is in cash, and the remainder is in dividends. The £6.70/share price is a 22% premium to ICI’s closing price of...

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