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PPG higher after sweetening Akzo Nobel bid

Published 04/24/2017, 10:58 AM
Updated 04/24/2017, 10:58 AM

Investing.com - U.S. coatings firm (NYSE:PPG) shares were higher after sweetening its bid for rival (AS:{{6902|Akzo Nobel }).
PPG shares were up 1.90% at $107.95 at 10:30 ET. Akzo Nobel was up 5.22% at €82.88.
PPG said Monday its raised its cash-and-stock offer by €6.75 to €96.75, a premium of 24% to Akzo's closing price Friday.
Akzo said it was considering the offer. It rejected two earlier approaches by PPG
The sweetened offer has a cash component of €61.50 and an offer of 0.357 shares for every Akzo
PPG said this was its ""latest invitation"" to Akzo for a tie-up.

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