Nippon Paint pursues AkzoNobel's decorative paints unit with multibillion-dollar offer

Nippon Paint has made an offer to acquire AkzoNobel's decorative paints business, a deal valued by reports at between $8.55 billion and $8.6 billion. The bid comes a month after Nippon and Sherwin-Williams ended a joint bid for the Dutch paint maker, according to The Business Times.

The Business TimesNippon Paint said to offer US$8.6 billion for Akzo Nobel paint arm

"Nippon Paint is said to have offered US$8.6 billion for Akzo Nobel paint arm"

The outlet reported that the bid follows the collapse of a joint approach with Sherwin-Williams, signaling Nippon's continued interest in expanding its decorative paints footprint.

Meanwhile, thehindubusinessline.com put the offer at $8.55 billion and added that Nippon made multiple proposals over the past month. However, AkzoNobel has not engaged with the offer or informed its shareholders, the outlet reported.

thehindubusinessline.comNippon Paint offers $8.55 billion for AkzoNobel’s decorative paints business

"According to reports, Nippon Paint made multiple offers over the past month, but AkzoNobel neither engaged with the proposal nor informed shareholders"

This lack of engagement suggests AkzoNobel may be weighing other strategic options or holding out for a higher price, even as Nippon Paint presses its ambition to become a major player in the decorative paints market.