AkzoNobel and Axalta announced yesterday a definitive agreement to combine in an all-stock merger of equals, creating a global company with an enterprise value of $25 billion. The deal brings together two coatings-segment leaders with complementary brand portfolios to better-serve customers across key end markets and enhance value for shareholders, employees and other stakeholders.
“We’re excited to enter a new chapter in our long and proud history as a leader in the paints and coatings industry,” Greg Poux-Guillaume, AkzoNobel CEO and chairman of the board of management, said in a statement. “This merger will allow us to accelerate our growth ambitions by bringing together highly complementary technologies, expertise and passionate people to unlock our full combined potential.”
The combined AkzoNobel-Axalta portfolio will be differentiated by its breadth of solutions across approximately 100 well-known brands.
“The Axalta board is confident that this combination with AkzoNobel will create significant value for our shareholders as we move ahead,” Axalta board chair Rakesh Sachdev said in the statement. “Led by an experienced management team with a track record of operational efficiency and excellence, we expect the meaningful synergy opportunities and enhanced financial profile of the combined company will drive substantial value creation.”
The merger is expected to generate pretax run-rate synergies of approximately $600 million, with 90% of synergies expected to be achieved within the first three years after the close of the transaction.
The combined company will assume a new name and ticker symbol, and will have dual headquarters in Amsterdam and Philadelphia. It will be organized under a Dutch holding company with tax residency in the Netherlands. The companies expect the transaction to close in late 2026 to early 2027, subject to approval by AkzoNobel and Axalta shareholders, the receipt of requisite regulatory approvals, and other matters, the statement said.
