Dulux owner in fresh $30bn merger talks

Dulux paints owner Akzonobel has confirmed it is in talks over a potential merger with US firm Axalta, just months after rejecting a multi-billionpound takeover bid by American rival PPG Industries.

The Dutch firm made the announcement yesterday in response to market speculation following reports last week.

“Akzonobel confirms today it is currently in constructive discussions regarding a merg- er of the Akzonobel Paints & Coatings business with Axalta. This will create a leading global paints and coatings company through a merger of equals.”

It has been estimated that the combined business could be valued at $30 billion (£22.8bn). Akzonobel confirmed that the planned separation of its specialty chemicals business was still on track for April 2018 and was not affected by the talks.

Jefferies analyst Laurence Alexander said the Axalta deal could yield “attractive synergies”.