Axalta Coating Systems confirmed that its previously announced discussions regarding it being acquired by Nippon Paint have ended.
Dec, 1, 2017—Axalta Coating Systems confirmed that its previously announced discussions regarding it being acquired by Nippon Paint have ended.
Nippon Paint informed Axalta that its board of directors were unwilling to meet Nippon’s expectations regarding the value of the company and the financial leverage necessary for a deal of this size.
“Axalta is a premier company in the coatings industry and has recently been sought after by two global competitors,” says Charles W. Shaver, Axalta’s chairman and CEO. “While neither deal came to fruition, the keen interest by these companies underscores Axalta’s global leadership position. Our current and future operational plans have not wavered during these discussions. We are well positioned to continue as a standalone growth company and will remain disciplined in generating superior long-term value for our shareholders.”
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