AkzoNobel and Axalta Announce All-Stock Merger

Key highlights
  • The merger creates a global coatings company valued at $25 billion.
  • The combined company expects 2024 revenues of $17 billion and $1.5 billion in pro forma Adjusted Free Cash Flow.
  • Identified synergies of $600 million are expected, with 90% achieved within three years post-transaction.

Merger Overview

AkzoNobel and Axalta have agreed to merge in an all-stock transaction, forming a leading global coatings company with an enterprise value of approximately $25 billion. This merger combines two industry leaders with complementary portfolios to enhance customer service and stakeholder value.

Financial Projections

The merged entity is projected to achieve 2024 revenues of around $17 billion and generate $1.5 billion in pro forma Adjusted Free Cash Flow. The merger is expected to deliver run-rate synergies of approximately $600 million, with 90% of these synergies anticipated within the first three years post-transaction.

Global Reach and Innovation

The combined company will have a balanced global presence across over 160 countries, leveraging industry-leading innovation capabilities to serve local customers effectively. The merger aims to create a strong platform for sustainable growth and enhanced competitive positioning in the coatings industry.

Source: AkzoNobel

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