AkzoNobel Shares Plummet as $14.5 Billion Takeover Bid Collapses
Shares of Dutch paint and coatings giant AkzoNobel plummeted 19% in early trading Wednesday after a consortium led by Nippon Paint and Sherwin-Williams officially abandoned their $14.5 billion acquisition bid. The collapse of the deal, which had been the subject of intense speculation in the global chemical industry, leaves the Amsterdam-based company facing an uncertain…
