• Login
    • Join
  • FOLLOW:
  • Subscribe Free
    • Magazine
    • eNewsletter
    Checkout
    • Magazine
    • News
    • Research
    • Markets & Technologies
    • Raw Materials
    • Top Companies
    • Directories
    • Jobs
    • Events
    • Microsites
    • More
  • Magazine
  • News
  • Research
  • Markets & Technologies
  • Raw Materials
  • Top Companies
  • Directories
  • Jobs
  • Events
  • Microsites
  • Current / Back Issues
    Features
    Business Corner
    Editorial
    Digital Edition
    eNewsletter Archive
    Our Team
    Editorial Guidelines
    Subscribe Now
    Advertise Now
    World Reports
    eBook
    Top Features
    2023 CEO Forum

    The 2023 Automotive Coatings Market

    Color Trends in the Paint and Coatings Industry

    2023 European Coatings Show EXHIBITOR SHOWCASE

    Industry is Looking Forward to the 2023 European Coatings Show
    Breaking News
    Online Exclusives
    Distributor News
    Financial News
    Paint & Coatings Manufacturer News
    People In the News
    Price Increases
    Product News
    Raw Materials & Equipment
    Video Bites
    Suppliers News
    Live From Shows
    Top News
    Orion Debottlenecks Plant in Germany for High-Jetness Carbon Blacks

    Barentz Expands Market Acceleration Team

    Röhm Launches DEGALAN proTerra

    Evonik Obtains Certification for VISIOMER Terra Biobased Methacrylates

    Norwegian Cruise Line Goes Biocide-Free with Nippon Paint Marine's AQUATERRAS
    Top Companies report
    Market Research
    White Papers / Tech Papers
    Technical Papers
    Product Spec Sheets
    World Reports
    Adhesives and Sealants
    Aerospace Coatings
    Architectural Coatings
    Automotive Coatings
    Automotive Refinish
    Business Operation
    Color Trends & Forecast
    Construction Chemicals
    Corrosion Control
    Industrial Coatings
    Laboratory Equipment
    Marine Coatings
    Market Trends & Forecast
    Powder Coatings
    Production Equipment
    Radcure Coatings
    Special Purpose Coatings
    Wood Coatings
    "Green" Coatings

    Norwegian Cruise Line Goes Biocide-Free with Nippon Paint Marine's AQUATERRAS

    Stahl Completes Acquisition of ICP Industrial Solutions Group

    The 2023 Automotive Coatings Market

    Color Trends in the Paint and Coatings Industry

    Miller Paint Partners with Portland Boutique Woonwinkel for 2023 Spring Color Trends
    Additives
    Binders
    Pigments
    Solvents

    Orion Debottlenecks Plant in Germany for High-Jetness Carbon Blacks

    Evonik Obtains Certification for VISIOMER Terra Biobased Methacrylates

    BASF Invests in Expansion of Polymer Dispersions Plant in Daya Bay, China

    Evonik Invests in Interface Polymers

    Evonik Launches New TEGO Flow 380 Leveling Agent for Automotive Clear Coatings
    Company Capabilities
    Buyers Guide
    Distributor Guide
    Add New Company
    International Buyers Guide Companies
    Shepherd Color Company, The

    Siltech Corporation

    W. R. Grace & Co.

    Active Minerals

    Clariant Additives
    Industry Events
    Webinars
    Live From Show Event
    Top Events
    Southern Society for Coatings Technology Annual Meeting and Technology Conference

    Eastern Coatings Show

    CPCA Annual Conference

    66th Annual Sink or Swim

    Middle East Coatings Show
    Companies
    White Papers/Tech Papers
    Product Spec Sheets
    Equipment
    Literature/Brochures
    Videos
    International Buyers Guide Companies
    Shepherd Color Company, The

    Siltech Corporation

    W. R. Grace & Co.

    Active Minerals

    Clariant Additives
    • Magazine
      • Current / Back Issues
      • Features
      • Editorial
      • Business Corner
      • Digital Edition
      • eNewsletter Archive
      • Editorial Guidelines
      • Subscribe Now
      • Advertise Now
    • Breaking News
    • Directories
      • Buyers Guide
      • Distributor Guide
      • Corporate Capabilities
      • Trade Associations
      • Add Your Company
    • Markets & Technologies
      • Adhesives and Sealants
      • Aerospace Coatings
      • Architectural Coatings
      • Automotive Coatings
      • Automotive Refinish
      • Business Operation
      • Color Trends & Forecast
      • Construction Chemicals
      • Corrosion Control
      • Industrial Coatings
      • Laboratory Equipment
      • Marine Coatings
      • Market Trends & Forecast
      • Powder Coatings
      • Production Equipment
      • Radcure Coatings
      • Special Purpose Coatings
      • Wood Coatings
      • "Green" Coatings
    • Raw Materials
      • Additives
      • Binders
      • Pigments
      • Solvents
    • World Reports
      • Africa Report
      • China Report
      • India/Asia Pacific Report
      • Europe Report
      • Latin America Report
      • Market Research
      • Russian Report
    • Top Companies
    • Online Exclusives
    • Glossary
    • Slideshows
    • Experts Opinions
    • Blog
    • eBook
    • Infographics
    • Videos
    • Podcasts
    • Whitepapers
    • Jobs
    • Microsites
      • Companies
      • White Papers/Tech Papers
      • Product Spec Sheets
      • Equipment
      • Literature/Brochures
      • Videos
    • Events
      • Industry Events
      • Live From Show Event
      • Webinars
    • About Us
      • About Us
      • Contact Us
      • Advertise With Us
      • Privacy Policy
      • Terms of Use
    Breaking News

    AkzoNobel Confirms Intent to Acquire Tikkurila

    Binding proposal for €31.25 per share.

    AkzoNobel Confirms Intent to Acquire Tikkurila
    01.28.21
    Akzo Nobel N.V. submitted a binding proposal to the Board of Directors of Tikkurila, having completed its due diligence on the company. 
     
    The proposal relates to a tender offer for all the issued and outstanding shares of Tikkurila at an offer price of €31.25 per share, representing a total equity value of around €1.4 billion.
     
    On Jan. 18, 2021, AkzoNobel announced it had made a comprehensive non-binding proposal to acquire Tikkurila and invited the Board of Directors of Tikkurila to enter into negotiations to reach an agreement on a recommended voluntary public cash tender offer.
     
    Conducting customary due diligence has confirmed the AkzoNobel view that clear synergies would be created from collective procurement capabilities, expanded production, and combined sales and distribution channels. 
     
    The combination would deliver substantial value creation for shareholders and also create significant opportunities for future growth – both for the company and its employees – by providing customers with more innovative and sustainable solutions.
     
    The proposed transaction is consistent with the capital allocation priorities of AkzoNobel, is expected to be EPS accretive in the first year and value-creating in the medium-term. The proposal is not conditional on financing – it would be financed using existing cash and credit lines – and AkzoNobel maintains a target leverage ratio of 1-2x net debt/EBITDA. 
     
    The making of the potential tender offer, if any, depends on the satisfaction of the below pre-conditions. If the process advances quickly, an offer could be announced in February and AkzoNobel would envisage the offer period to begin as soon as possible in March. The transaction would be expected to be completed in 2021.
     
    The binding proposal is conditional on (1) AkzoNobel and Tikkurila entering into a combination agreement pursuant to which the Board of Directors of Tikkurila recommends to the shareholders of Tikkurila that they accept AkzoNobel's tender offer and (2) obtaining an irrevocable undertaking from Oras Invest Oy to accept AkzoNobel's tender offer. 
     
    The binding proposal is not conditional on due diligence or the approval by AkzoNobel's Supervisory Board, which has approved the submission of this binding proposal to Tikkurila.
     
    According to the binding proposal, the completion of the tender offer, if announced, would be subject to customary conditions, such as reaching a 90% acceptance level, obtaining required regulatory approvals, no legislation or decision by a court or authority preventing the transaction, no material adverse change regarding Tikkurila, and the combination agreement, Tikkurila Board's recommendation and the irrevocable undertaking to be obtained from Oras Invest Oy remaining in force. 
     
    AkzoNobel would reserve the right, at its sole discretion, to waive any of the conditions for completion of the potential offer.
     
    Shareholders are advised that there is no certainty that the binding proposal will eventually lead to a final agreement between AkzoNobel and Tikkurila or the making of an offer to Tikkurila shareholders. 
     
    The terms of the offer, if announced, may differ from the terms set out in the binding proposal and this announcement.
     
    The current combination agreement entered into by Tikkurila includes procedures allowing the offeror to negotiate should the Board of Directors of Tikkurila contemplate effecting a change of its recommendation.
     
    At the date of this announcement, AkzoNobel does not hold any shares of Tikkurila.
    Suggested For You
    EPS EPS
     Student of the Year and Coatings Care finalists announced by the British Coatings Federation Student of the Year and Coatings Care finalists announced by the British Coatings Federation
    Color of the Year 2022 Rolls with the Breeze for AkzoNobel Coil Coatings Color of the Year 2022 Rolls with the Breeze for AkzoNobel Coil Coatings
    AkzoNobel Receives SBTi Approval for Carbon Reduction Target AkzoNobel Receives SBTi Approval for Carbon Reduction Target
    AkzoNobel Re-brands Sign Finishes Business to Grip-Gard AkzoNobel Re-brands Sign Finishes Business to Grip-Gard
    AkzoNobel Share Buyback AkzoNobel Share Buyback
    Top Companies Report Top Companies Report
    Axalta Releases Second Quarter 2021 Results Axalta Releases Second Quarter 2021 Results
    AkzoNobel, Sikkens Continue Partnership with Mercedes-Benz in China and Indonesia AkzoNobel, Sikkens Continue Partnership with Mercedes-Benz in China and Indonesia
    BCF CEO Blog: Further Consolidation in the UK Coatings Industry BCF CEO Blog: Further Consolidation in the UK Coatings Industry
    RPM Reports Results for Fiscal 2021 Fourth Quarter, Full Year RPM Reports Results for Fiscal 2021 Fourth Quarter, Full Year
    Shortlist Announced for the British Coatings Federation’s 2021 Awards Shortlist Announced for the British Coatings Federation’s 2021 Awards
    AkzoNobel Sets Carbon Reduction Target to Help Tackle Climate Change  AkzoNobel Sets Carbon Reduction Target to Help Tackle Climate Change
    AkzoNobel Grows Revenue 26%, Delivers €335 Million Adjusted Operating Income AkzoNobel Grows Revenue 26%, Delivers €335 Million Adjusted Operating Income
    PPG Reports Second Quarter 2021 Financial Results PPG Reports Second Quarter 2021 Financial Results

    Related Buyers Guide Companies

    • Adhesives and Sealants
      EPS

      EPS

      ...
      Nancy Metzger, Marketing Support 09.21.22

    • Breaking News | Paint & Coatings Manufacturer News
       Student of the Year and Coatings Care finalists announced by the British Coatings Federation

      Student of the Year and Coatings Care finalists announced by the British Coatings Federation

      BCF has announced its finalists for the Student of the Year and Coatings Care awards.
      09.15.21

    • Breaking News | Color Trends & Forecast | Industrial Coatings | Paint & Coatings Manufacturer News
      Color of the Year 2022 Rolls with the Breeze for AkzoNobel Coil Coatings

      Color of the Year 2022 Rolls with the Breeze for AkzoNobel Coil Coatings

      Bright Skies, AkzoNobel’s Color of the Year 2022, is also available in coatings for building and construction metal.
      09.14.21


    • Breaking News | Paint & Coatings Manufacturer News
      AkzoNobel Receives SBTi Approval for Carbon Reduction Target

      AkzoNobel Receives SBTi Approval for Carbon Reduction Target

      Becomes the first paints and coatings company to receive this endorsement.
      09.09.21

    • Automotive Refinish | Breaking News | Paint & Coatings Manufacturer News
      AkzoNobel Re-brands Sign Finishes Business to Grip-Gard

      AkzoNobel Re-brands Sign Finishes Business to Grip-Gard

      Grip-Gard is the long-standing name of AkzoNobel’s sign finishing product line.
      08.17.21

    Loading, Please Wait..
    Trending
    • BASF Invests In Expansion Of Polymer Dispersions Plant In Daya Bay, China
    • Interpon Powder Coatings On Dubai’s Latest Luxury Hotel ​
    • Norwegian Cruise Line Goes Biocide-Free With Nippon Paint Marine's AQUATERRAS
    • Stahl Completes Acquisition Of ICP Industrial Solutions Group
    • Univar Solutions To Be Acquired By Apollo Funds For $8.1B
    Breaking News
    • Orion Debottlenecks Plant in Germany for High-Jetness Carbon Blacks
    • Barentz Expands Market Acceleration Team
    • Röhm Launches DEGALAN proTerra
    • Evonik Obtains Certification for VISIOMER Terra Biobased Methacrylates
    • Norwegian Cruise Line Goes Biocide-Free with Nippon Paint Marine's AQUATERRAS
    View Breaking News >
    CURRENT ISSUE

    March 2023

    • 2023 CEO Forum
    • The 2023 Automotive Coatings Market
    • Color Trends in the Paint and Coatings Industry
    • 2023 European Coatings Show EXHIBITOR SHOWCASE
    • Industry is Looking Forward to the 2023 European Coatings Show
    • View More >

    Cookies help us to provide you with an excellent service. By using our website, you declare yourself in agreement with our use of cookies.
    You can obtain detailed information about the use of cookies on our website by clicking on "More information”.

    • About Us
    • Privacy Policy
    • Terms And Conditions
    • Contact Us

    follow us

    Subscribe
    Nutraceuticals World

    Latest Breaking News From Nutraceuticals World

    GOOD Meat Receives FDA Go-Ahead for Cultured Meat
    IFF Achieves Industrial-Scale Production of Anaerobic Probiotic Strain
    Jones Healthcare Group Primed to Help Nutraceutical Brands Comply with New Packaging Rules
    Coatings World

    Latest Breaking News From Coatings World

    Orion Debottlenecks Plant in Germany for High-Jetness Carbon Blacks
    Barentz Expands Market Acceleration Team
    Röhm Launches DEGALAN proTerra
    Medical Product Outsourcing

    Latest Breaking News From Medical Product Outsourcing

    Relay Robotics Adds Three Executives to its Product Team
    FDA Clears Atalante Hands-Free Self-Balancing Device
    Kerecis Debuts New Fish-Skin Burn Products
    Contract Pharma

    Latest Breaking News From Contract Pharma

    Hovione, Laxxon Medical Partner on 3D Screen Printed Pharmaceutical Apps
    Stäubli Robotics to Showcase Next Gen Pharma Robots at Interphex 2023
    Remedium, Exothera Partner on Scale-Up, Demonstration Runs for AAV2-FGF18
    Beauty Packaging

    Latest Breaking News From Beauty Packaging

    Wella Company Appoints Frank Smalla as Chief Financial Officer & Chief Operating Officer
    True Botanicals Secures Series B Investment from NextWorld Evergreen
    LVMH Appoints Giulio Bergamaschi as CEO of Acqua di Parma
    Happi

    Latest Breaking News From Happi

    True Botanicals Announces Series B Investment From NextWorld Evergreen
    Rodan + Fields Celebrates 15 Years with Limited-Edition Birthday Box
    Johnson’s Baby Releases Body Wash, Shampoo and Face and Body Cream for Sensitive Skin
    Ink World

    Latest Breaking News From Ink World

    Markem-Imaje Introduces New Hybrid Continuous Inkjet Printer
    Orion Debottlenecks German Facility for High-Jetness Carbon Blacks
    Barentz Expanding Market Acceleration Team
    Label & Narrow Web

    Latest Breaking News From Label & Narrow Web

    Mark Andy introduces ProWORX Label Suite
    Brook + Whittle to install first HP Indigo V12 digital press in US
    HP debuts HP Indigo 200K digital press
    Nonwovens Industry

    Latest Breaking News From Nonwovens Industry

    Berry Releases 2022 Impact Report
    Kimberly-Clark Ranks Third Among 100 Most Sustainable Companies
    Weekly Recap: TerraCycle Launches Diaper Program, Ahlstrom to Divest or Shutter Stenay Plant & More
    Orthopedic Design & Technology

    Latest Breaking News From Orthopedic Design & Technology

    Head and Neck Injury Severity Rising in High School Athletes
    Loci Orthopaedics Earns New Patent for Thumb Base Joint Implant System
    Study: Running Does Not Increase Arthritis Risk
    Printed Electronics Now

    Latest Breaking News From Printed Electronics Now

    NextFlex Launches $4.4 Million Funding Opportunity
    Confidex Partners with Mesh Specialist Wirepas
    Waterman Onions Digitizes Logistics Operation with Zebra

    Copyright © 2023 Rodman Media. All rights reserved. Use of this constitutes acceptance of our privacy policy The material on this site may not be reproduced, distributed, transmitted, or otherwise used, except with the prior written permission of Rodman Media.

    AD BLOCKER DETECTED

    Our website is made possible by displaying online advertisements to our visitors.
    Please consider supporting us by disabling your ad blocker.


    FREE SUBSCRIPTION Already a subscriber? Login