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Update: Axalta Coating Systems-AkzoNobel Merger Reportedly Set for EU Approval

MT Newswires Live
Yesterday

(Updates with European Commission declining to comment in third paragraph.)

Axalta Coating Systems (AXTA) and AkzoNobel are expected to obtain antitrust approval from the EU's European Commission for their $25 billion merger, with Axalta's vehicle refinish business to be sold to alleviate competition concerns, multiple media outlets reported Thursday, citing sources familiar with the matter.

The companies are set to submit their concessions next week, which will extend the commission's Oct. 22 deadline by 10 working days, according to the reports.

The European Commission declined to comment, while Axalta and AkzoNobel did not immediately reply to a request for comment from MT Newswires.

Price: 32.68, Change: -0.14, Percent Change: -0.41

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