$600M in Synergies and a Major Payout to Shareholders
The companies estimate that operational integration will generate $600 million in savings. Ownership of the new entity will be split 55% to AkzoNobel shareholders and 45% to Axalta shareholders.
AkzoNobel will also issue a €2.5 billion ($2.9 billion) special dividend to its shareholders in connection with the merger.
Approvals Still Needed
The deal must clear shareholder votes for both companies, undergo consultation with AkzoNobel’s works council, and win regulatory approval from unnamed authorities.
Financial Advisers Powering the Transaction
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Morgan Stanley & Co. International PLC advises AkzoNobel.
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Evercore, J.P. Morgan Securities LLC, and Incentrum Group advise Axalta.
Together, they are steering one of the most consequential mergers in the industrial coatings sector—an alliance poised to coat the global market in a new layer of competition.
