AkzoNobel confirms it is currently in constructive discussions regarding a merger of the AkzoNobel Paints & Coatings business with Axalta. This will create a leading global paints & coatings company through a merger of equals. AkzoNobel has close to three times the market value of Axalta. The merger would create a $30 billion company.

AkzoNobel’s separation of Specialty Chemicals, including the return of the vast majority of net proceeds to shareholders, remains on track for April 2018 and is unaffected by the merger discussions.

• Axalta Coating Systems Ltd., Philadelphia, Pennsylvania, USA
• Akzo Nobel, Amsterdam, The Netherlands