Nippon Paint Offers €7.5 Billion to Acquire AkzoNobel's Decorative Paints Business

en.Wedoany.com Reported - Akzo Nobel N.V. confirms receipt of multiple conditional and non-binding proposals from Nippon Paint Holdings Co., Ltd. regarding a potential acquisition of its Decorative Paints business, and responds to recent media reports. The proposals are based on an indicative enterprise value of €7.5 billion (on a cash and debt-free basis).

As defined under the merger agreement between AkzoNobel and Axalta Coating Systems Ltd., the Nippon Paint proposal constitutes an alternative proposal, restricting AkzoNobel from engaging in any discussions. Furthermore, AkzoNobel believes, as previously communicated to Nippon Paint, that the proposal significantly undervalues its Decorative Paints business.

AkzoNobel's Board of Management and Supervisory Board continue to unanimously recommend the merger of equals with Axalta. This position is based on the strategic rationale and benefits outlined in the joint press release issued by both parties on November 18, 2025.

Further announcements will be made as appropriate.

This announcement is made by Akzo Nobel N.V. pursuant to Article 17, paragraph 1 of the European Market Abuse Regulation (596/2014).