• 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
    Powder Coatings Market

    Performance Enhancing Additives

    The Role Of Kilowatt Hours In Measuring Mill Performance

    The 2023 Marine Coatings Market

    PPG: Treated Silicas Enable Tire Manufacturing Energy Savings and Reduced Complexity
    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
    PPG’s New Paint for a New Start Initiative Transforms Secondary School Lab and Playgrounds in Turkey

    Arxada Appoints Sanjeev Rastogi as CEO

    ACC: Let Chemistry Create, so America Can Compete

    WEG Among the Best Companies in Brazil in 2023

    EMPA Develops Flame Resistant Epoxy Resin
    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

    PPG’s New Paint for a New Start Initiative Transforms Secondary School Lab and Playgrounds in Turkey

    PPG Introduces PPG SUSTAINABILITY CO₂NCEPT System

    Sherwin-Williams Reveals 2024 Color of the Year, Upward SW 6239

    PPG Completes $2.7 Million Expansion of Powder Coatings Factory in Sumaré, Brazil

    U.S. Green Building Council Announces 2023 Leadership Award Recipients
    Additives
    Binders
    Pigments
    Solvents

    Arxada Appoints Sanjeev Rastogi as CEO

    Birla Carbon Releases its 11th Sustainability Report

    Microban Launches Ascera Antimicrobial Technology

    Orion S.A. Invests €12.8 Million in Circular Carbon Black Project

    Univar Solutions Expands Distribution Relationship with Dow in Germany for Silicone Additives
    Company Capabilities
    Buyers Guide
    Distributor Guide
    Add New Company
    International Buyers Guide Companies
    Shepherd Color Company, The

    Arkema

    EPS

    Siltech Corporation

    Active Minerals
    Industry Events
    Webinars
    Live From Show Event
    Top Events
    Greenbuild International Conference + Expo

    The Gulf Coatings Show

    Western Coatings Symposium 2023

    Pacific Coatings Show

    CHINACOAT 2023
    Companies
    White Papers/Tech Papers
    Product Spec Sheets
    Equipment
    Literature/Brochures
    Videos
    International Buyers Guide Companies
    Shepherd Color Company, The

    Arkema

    EPS

    Siltech Corporation

    Active Minerals
    • 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
    • PPG Completes $2.7 Million Expansion Of Powder Coatings Factory In Sumaré, Brazil
    • Sherwin-Williams Reveals 2024 Color Of The Year, Upward SW 6239
    • Diamond Vogel Opens Innovation Center
    • U.S. Green Building Council Announces 2023 Leadership Award Recipients
    • PPG Introduces PPG SUSTAINABILITY CO₂NCEPT System
    Breaking News
    • PPG’s New Paint for a New Start Initiative Transforms Secondary School Lab and Playgrounds in Turkey
    • Arxada Appoints Sanjeev Rastogi as CEO
    • ACC: Let Chemistry Create, so America Can Compete
    • WEG Among the Best Companies in Brazil in 2023
    • EMPA Develops Flame Resistant Epoxy Resin
    View Breaking News >
    CURRENT ISSUE

    September 2023

    • Powder Coatings Market
    • Performance Enhancing Additives
    • The Role Of Kilowatt Hours In Measuring Mill Performance
    • 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

    ABC’s Journal HerbalGram Celebrates 40th Anniversary
    Curcumin May Be As Effective as PPI for Indigestion
    Adding Human Milk Component to Formula Linked to Long-term Cognitive Benefits for Babies
    Coatings World

    Latest Breaking News From Coatings World

    PPG’s New Paint for a New Start Initiative Transforms Secondary School Lab and Playgrounds in Turkey
    Arxada Appoints Sanjeev Rastogi as CEO
    ACC: Let Chemistry Create, so America Can Compete
    Medical Product Outsourcing

    Latest Breaking News From Medical Product Outsourcing

    Terumo MicroVention's SOFIA EX 5F Catheter OK'ed for Transradial Access
    Heather Danks Named Chief Technology Officer at LEX Diagnostics
    Vitalchat Awarded Patent for Patient Monitoring, Bandwidth Conservation Tech
    Contract Pharma

    Latest Breaking News From Contract Pharma

    Nexcella Completes 2nd NXC-201 Engineering Batch
    Almirall Upgrades Werum PAS-X MES
    Rentschler Names Industry Veterans to Leadership Posts
    Beauty Packaging

    Latest Breaking News From Beauty Packaging

    IT Award Winners Announced at MakeUp in NY
    GK Hair Expands Color Range to 125 Hues
    WPO and AIPIA Sign MoU to Collaborate on Smart Packaging
    Happi

    Latest Breaking News From Happi

    Seiwa Kasei Launches Novel Moisturizing Ingredient
    LG Patents Makeup Setting Spray
    Ecolab Opens New Regional Office in Singapore
    Ink World

    Latest Breaking News From Ink World

    American Chemistry Council (ACC): Let Chemistry Create, so America Can Compete
    HYBRID Software’s PrintFusion for Koenig & Bauer
    Fujifilm Announced European Release of the Acuity Prime Hybrid
    Label & Narrow Web

    Latest Breaking News From Label & Narrow Web

    Elkem highlights thermal protection and battery assembly products
    Customized EV battery packaging on display at The Battery Show
    Avery Dennison launches Volt Tough electrical insulation tapes
    Nonwovens Industry

    Latest Breaking News From Nonwovens Industry

    Lenzing Earns EU Ecolabel at Indonesian Plant
    Albis Completes Work On Extra Wide Carding, Blending Line
    Ahlstrom Launches Nonwoven Laundry Care Product
    Orthopedic Design & Technology

    Latest Breaking News From Orthopedic Design & Technology

    Exactech's Activit-E Polyethylene OK'ed for Vantage Total Ankle
    Tyber Nets Several Regulatory Nods for K-Wires, Steinmann Pins
    Relievant Medsystems Releases Medability-Powered Intracept Simulator
    Printed Electronics Now

    Latest Breaking News From Printed Electronics Now

    ASSA ABLOY Acquires Forte in Peru
    Le Biscuit Boosts Omnichannel Operations with Zebra Technologies
    German Government, Bavaria Commit Support to ams OSRAM

    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