Merger of AkzoNobel and Axalta: Shareholders Approve
Shareholders of AkzoNobel and Axalta approved the planned merger of the two paint and coatings companies by a large majority at their respective annual shareholder meetings. This marks an important milestone for the planned merger.
At both AkzoNobel’s extraordinary general meeting and Axalta’s special general meeting, shareholders approved all resolutions necessary for the merger. At AkzoNobel, this includes, among other things, approval of the merger, amendments to the articles of association, authorization to issue new shares, and the appointment and compensation of the future board of directors. With the approvals from both groups of shareholders now in place, the merger can move on to the next phase. However, antitrust and regulatory approvals, as well as other customary closing conditions, are still required before the transaction can be completed.
Joint Coatings Group with a Global Focus
The companies view the planned transaction as the foundation for a world-leading provider of paints and coating solutions with complementary product portfolios and greater innovative strength. Greg Poux-Guillaume, CEO of AkzoNobel and future CEO of the merged company, described the shareholders’ approval as a clear mandate for the joint growth strategy. Axalta CEO Chris Villavarayan also called it an important milestone and emphasized that integration planning is already underway to leverage the synergies of the two companies from day one. Both companies remain committed to their goal of completing the merger—subject to all regulatory approvals—by the end of 2026 or early 2027.
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