Nippon Paint has offered €7.5 billion ($8.55 billion) to acquire AkzoNobel’s decorative paints business. Earlier, Nippon Paint and US paint and coatings company Sherwin-Williams had offered €12.5 billion to buy all of AkzoNobel. However, AkzoNobel rejected the first joint proposal on April 22, 2026. The second proposal was submitted on April 29 and rejected on May 1, 2026, because it was believed the price was too low. The company was also concerned about securing regulatory approval and did not like the plan to split its business between two buyers.
On Monday, Nippon Paint said it has made a new offer only for AkzoNobel’s decorative paints business. However, the company also said that no final decision has been made about the possible deal. According to Bloomberg News, Nippon Paint made several offers over the past month. The report said AkzoNobel did not discuss the latest €7.5 billion offer with its shareholders and did not enter talks with Nippon Paint.
AkzoNobel is the manufacturer of the popular Dulux range of paints. The company will not sell off any of its business units but will go ahead with the planned acquisition of American coatings company, Axalta. The shareholders of both companies are supposed to vote for the deal on August 5.
Paint companies around the world are looking at mergers and acquisitions to reduce costs and become stronger as the industry faces higher costs, tough competition, and uncertainty caused by US President Donald Trump’s tariffs on imported goods.
