Business

Nippon Paint offers $8.6 billion for Akzo Nobel unit, Bloomberg News reports

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July 13 : Nippon Paint has made multiple offers for Akzo Nobel’s decorative paints business in the past month, including a proposal valuing the unit at 7.5 billion euros ($8.55 billion) last week, Bloomberg News reported on Sunday, citing people familiar with the matter. 

Reuters could not immediately verify the report. Nippon Paint and Akzo Nobel could not immediately be reached for comment outside regular business hours.

Akzo Nobel’s management did not engage with Japan’s Nippon Paint regarding the offer, which values the business at about 12 times its 2026 earnings before interest, taxes, depreciation, and amortization, nor did it inform shareholders of the approach, Bloomberg News said.  

No final decision has been made, and Nippon Paint could still abandon its pursuit of the business, the report added.

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The approach comes after Nippon Paint and U.S.-based Sherwin-Williams ended efforts to jointly acquire the Dutch paint maker last month. 

Paint makers are pursuing mergers to save money amid rising costs, intense competition, and uncertainty caused by U.S. President Donald Trump’s tariffs on imported goods.

($1 = 0.8775 euros)

Source: Reuters

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