Akzonobel CEO: Deal with Axalta makes 'too much sense to ignore'

Core Insights - The merger between the two companies is characterized as a "no premium merger of equals," indicating that both companies are performing well and have supportive leadership teams for the integration [1][2][3] - The combined entity will have a significant global presence, with operations in 160 countries, 170 manufacturing sites, and 91 R&D centers, enhancing its distribution capabilities [6][8] - The governance structure post-merger will feature a balanced leadership, with the CEO from one company and the chairman from the other, ensuring equitable representation [4][5] Financial Aspects - A special dividend of €2.5 billion will be paid to shareholders ahead of the transaction, adjusting the ownership stakes to 55% and 45% [4] - The merger is expected to create the largest performance coatings business globally, and the second largest when including paint and coatings [8] Strategic Benefits - The merger aims to leverage the combined strengths of both companies to build critical size and enhance competitiveness in the market [7][8] - The integration is seen as an opportunity to optimize operations and improve overall business performance, with a focus on local presence and global coverage [6][7]