{"id":25913,"date":"2017-04-04T07:50:57","date_gmt":"2017-04-04T07:50:57","guid":{"rendered":"http:\/\/www.biphoo.com\/bipnews\/?p=25913"},"modified":"2017-04-04T07:50:57","modified_gmt":"2017-04-04T07:50:57","slug":"top-20-akzo-nobel-investor-backs-talks-ppg-revised-bid","status":"publish","type":"post","link":"https:\/\/www.biphoo.com\/bipnews\/business\/top-20-akzo-nobel-investor-backs-talks-ppg-revised-bid.html","title":{"rendered":"Top-20 Akzo Nobel investor backs talks with PPG over revised bid"},"content":{"rendered":"<h2 style=\"text-align: justify;\">\n\t<span style=\"font-size:22px;\"><strong><span style=\"font-family:arial,helvetica,sans-serif;\">Top-20 Akzo Nobel investor backs talks with PPG over revised bid<\/span><\/strong><\/span><br \/>\n<\/h2>\n<p style=\"text-align: justify;\">\n\t<span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">Top-20 Akzo Nobel investor backs talks with PPG over revised bid:- A top-20 investor in Akzo Nobel (AKZO.AS) said on Monday he wanted the firm to engage with U.S. rival PPG Industries (PPG.N) over a revised bid raising pressure on the Dutch paint maker to begin talks.<\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">Chief Executive Ton Buechner has so far refused to do so, saying PPG has yet to address &quot;key stakeholder issues&quot; &#8211; a position he reiterated on Monday in the face of growing opposition from shareholders led by activist investor Elliott Advisors.<\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">The investor said while Buechner had &quot;done a fantastic job since he took over&quot;, the revised cash-and-share offer of around 90 euros a share was &quot;at a level where the company&#39;s got to engage; it&#39;s a decent offer&quot;, given he valued Akzo at around 75 euros a share as a standalone firm.<\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">Valuation, and not politics or the governance structure, should be the only thing that prevented a deal from taking place, he added, and it was up to Buechner to show how he intended to close the valuation gap.<\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">Akzo is due to detail its plan to boost shareholder value on Apr. 19, including a spin-off of its chemicals division. The investor said the move would be unlikely to deliver much in terms of value accretion to shareholders, although it depended on the price.<\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"font-size:8px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">Source:-&nbsp;http:\/\/www.reuters.com\/article\/us-akzo-nobel-m-a-investor-idUSKBN17523C<\/span><\/span><\/p>\n<div class=\"fb-background-color\">\n\t\t\t  <div \n\t\t\t  \tclass = \"fb-comments\" \n\t\t\t  \tdata-href = \"https:\/\/www.biphoo.com\/bipnews\/business\/top-20-akzo-nobel-investor-backs-talks-ppg-revised-bid.html\"\n\t\t\t  \tdata-numposts = \"10\"\n\t\t\t  \tdata-lazy = \"true\"\n\t\t\t\tdata-colorscheme = \"light\"\n\t\t\t\tdata-order-by = \"social\"\n\t\t\t\tdata-mobile=true>\n\t\t\t  <\/div><\/div>\n\t\t  <style>\n\t\t    .fb-background-color {\n\t\t\t\tbackground: #ffffff !important;\n\t\t\t}\n\t\t\t.fb_iframe_widget_fluid_desktop iframe {\n\t\t\t    width: 630px !important;\n\t\t\t}\n\t\t  <\/style>\n\t\t  ","protected":false},"excerpt":{"rendered":"<p>Top-20 Akzo Nobel investor backs talks with PPG over revised bid Top-20 Akzo Nobel investor backs talks with PPG over revised bid:- A top-20 investor in Akzo Nobel (AKZO.AS) said on Monday he wanted the firm to engage with U.S. rival PPG Industries (PPG.N) over a revised bid raising pressure [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":25915,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[16214,16212,16215,16213,16211,3299,547],"class_list":["post-25913","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-akzo","tag-elliott-advisors","tag-nobel","tag-ton-buechner","tag-top-20-akzo-nobel-investor-backs-talks-with-ppg-over-revised-bid","tag-united-states","tag-us"],"_links":{"self":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/25913","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/comments?post=25913"}],"version-history":[{"count":0,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/25913\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media\/25915"}],"wp:attachment":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media?parent=25913"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/categories?post=25913"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/tags?post=25913"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}