en.Wedoany.com Reported - Shareholders of Akzo Nobel N.V. and Axalta Coating Systems Ltd. held separate general meetings on August 5 and voted to approve the proposed all-share merger of equals between the two companies. The companies stated that shareholder approval cleared a key condition for the transaction, with the merger still subject to regulatory clearance.

Axalta passed the transaction by an overwhelming majority at its special general meeting, while Akzo Nobel's extraordinary general meeting also approved all resolutions related to the merger, including the merger itself, amendments to the articles of association, authorization for share issuance, appointment of the combined company's board of directors, and remuneration policy. The two parties announced the final merger agreement in November 2025. Based on 2024 data, the combined business is expected to generate revenue of approximately $17 billion, with an enterprise value of approximately $25 billion. Upon completion of the transaction, Akzo Nobel shareholders are expected to hold 55% of the combined company, with Axalta shareholders holding 45%.

Greg Poux-Guillaume, Chief Executive Officer of Akzo Nobel, said the vote marks an important milestone toward the merger of two complementary businesses, and the focus will now shift to building a global coatings company. Chris Villavarayan, Chief Executive Officer of Axalta, stated that shareholder support provides the foundation for advancing the transaction, and the teams are focused on integration planning to deliver synergy value from day one after the merger. Ben Noteboom, Chairman of Akzo Nobel's Supervisory Board, who will serve as Vice Chairman of the combined company, said shareholders have endorsed the growth plan, moving the merger process into its final phase. Rakesh Sachdev, Chairman of Axalta's Board of Directors, stated that this approval marks a significant step toward creating a global coatings company.

Completion of the transaction remains subject to required regulatory approvals and other customary closing conditions. If these conditions are met, the parties expect the merger to be completed by late 2026 or early 2027. Axalta will file the final voting results, certified by an independent election inspector, with the U.S. Securities and Exchange Commission (SEC) on Form 8-K, and Akzo Nobel will publish a summary of the voting results on its website.