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AkzoNobel proposes to acquire Tikkurila for a?¬31.25 per share, to create superior and sustainable value for all stakeholders

January 18, 2021AkzoNobel proposes to acquire Tikkurila for a?¬31.25 per share, to create superior and sustainable value for all stakeholders Akzo Nobel N.V. (AKZA; AKZOY) has today made a comprehensive non-binding proposal to acquire Tikkurila. The proposed combination of AkzoNobel and Tikkurila would create a strong platform for future growth, better able to serve customers with more innovative and sustainable solutions, building on a shared European heritage.The proposal includes an all-cash public offer for all issued and outstanding shares of Tikkurila at an offer price of a?¬31.25 per share (a??potential offera??) and total equity value of around a?¬1.4 billion. This represents a premium of 113% to Tikkurilaa??s volume weighted average share price for the undisturbed three-month period ending December 17, 2020 and is 13% higher than the current offer made on January 5, 2021.Thierry Vanlancker, AkzoNobel CEO, commented: a??The natural combination of AkzoNobel and Tikkurila would build on centuries of industry experience and a shared European heritage to create significant value for customers, employees, shareholders and other stakeholders. Bringing together our premium brands and leading portfolios would provide customers with a wider range of innovative products and services, including the most sustainable paints and coatings solutions.a??
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