AkzoNobel slips after Axalta investor contests merger deal

Artisan Partners Asset Management

20/11/2025 09:34

** Shares in Dulux paint maker AkzoNobel AKZO.AS slip 2.6% after Axalta AXTA.N investor Artisan Partners contested their merger deal

** "As an Axalta shareholder, we believe the only proper response to this proposed transaction is an absolute and resounding 'NO,'” Artisan Partners fund managers Daniel O'Keefe and Michael McKinnon write in a letter to Axalta shareholders

** The deal, announced November 18, is expected to create a combined company with an enterprise value of $25 billion, and should close late 2026 to early 2027

** AkzoNobel shares are down 9.5% YTD