Ton Büchner, the Akzo Nobel chief executive, said on a conference call with journalists: “We at Akzo Nobel will continue to focus on our business, pursuing our strategy of accelerating sustainable growth, profitability
and creating two focused, high-performing businesses: paints and coatings and specialty chemicals.”
He continued, “We believe this will lead to a step change in growth and long-term value creation for our shareholders and all other stakeholders.”
He also said the company remained committed to having an “open
and constructive dialogue” with its shareholders after a vocal group of shareholders pushed for merger talks.
PPG Drops Its Pursuit of Akzo Nobel -
By CHAD BRAYJUNE 1, 2017
LONDON — The American paint and chemicals giant PPG Industries said on Thursday
that it had dropped its monthslong pursuit of Akzo Nobel, the Dutch maker of Dulux paint, after failing to persuade its rival’s management to engage in merger talks.