{"id":25916,"date":"2017-04-04T07:54:26","date_gmt":"2017-04-04T07:54:26","guid":{"rendered":"http:\/\/www.biphoo.com\/bipnews\/?p=25916"},"modified":"2017-04-04T07:54:26","modified_gmt":"2017-04-04T07:54:26","slug":"akzo-nobel-ceo-says-ppg-proposal-insufficient","status":"publish","type":"post","link":"https:\/\/www.biphoo.com\/bipnews\/business\/akzo-nobel-ceo-says-ppg-proposal-insufficient.html","title":{"rendered":"Akzo Nobel CEO says PPG proposal is insufficient"},"content":{"rendered":"<h2 style=\"text-align: justify;\">\n\t<span style=\"font-size:22px;\"><strong><span style=\"color:#000000;\"><span style=\"font-family:arial,helvetica,sans-serif;\">Akzo Nobel CEO says PPG proposal is insufficient<\/span><\/span><\/strong><\/span><br \/>\n<\/h2>\n<p style=\"text-align: justify;\">\n\t<span style=\"color:#000000;\"><span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">Akzo Nobel CEO says PPG proposal is insufficient:- Akzo Nobel (AKZO.AS) CEO Ton Buechner repeated on Monday his opposition to a March 20 takeover proposal from U.S. rival PPG Industries (PPG.N), saying he sees no merit in negotiating with PPG.<\/span><\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"color:#000000;\"><span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">Buechner and Akzo Chairman Antony Burgmans have been under pressure from major shareholders, many of whom say the company should enter talks on PPG&#39;s 24.5 billion euro ($26.1 billion) offer.<\/span><\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"color:#000000;\"><span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">&quot;It did not address the key stakeholder issues and other issues like uncertainties and risks that we had already raised in response to their first proposal&quot; on March 9, Buechner said.<\/span><\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"color:#000000;\"><span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">He cited antitrust and other concerns, adding that it was not &quot;our duty&quot; to advise PPG on how to make a deal successful when Akzo is not the one asking for it.<\/span><\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"color:#000000;\"><span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">Buechner is due to detail his plans to instead spin off Akzo&#39;s chemical division on April 19, despite scepticism from investors and analysts that the plan could rival PPG&#39;s cash and share offer, which is worth 90.20 euros per share at current prices.<\/span><\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"color:#000000;\"><span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">Akzo shares were trading up 0.3 percent at 77.96 euros Monday.<\/span><\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"font-size:8px;\"><font color=\"#000000\" face=\"arial, helvetica, sans-serif\">Source:-&nbsp;http:\/\/www.reuters.com\/article\/us-akzo-nobel-m-a-ppg-idUSKBN1751J6<\/font><\/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\/akzo-nobel-ceo-says-ppg-proposal-insufficient.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>Akzo Nobel CEO says PPG proposal is insufficient Akzo Nobel CEO says PPG proposal is insufficient:- Akzo Nobel (AKZO.AS) CEO Ton Buechner repeated on Monday his opposition to a March 20 takeover proposal from U.S. rival PPG Industries (PPG.N), saying he sees no merit in negotiating with PPG. Buechner and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":25917,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[16216,16217,16213,3299],"class_list":["post-25916","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-akzo-nobel-ceo-says-ppg-proposal-is-insufficient","tag-antony-burgmans","tag-ton-buechner","tag-united-states"],"_links":{"self":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/25916","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=25916"}],"version-history":[{"count":0,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/25916\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media\/25917"}],"wp:attachment":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media?parent=25916"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/categories?post=25916"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/tags?post=25916"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}