Nippon Paint Holdings Co. has made multiple proposals to acquire Akzo Nobel NV's decorative paints business. These offers, made over the past month, value the unit at €7.5 billion ($8.55 billion).
This move follows an earlier attempt by Nippon Paint to purchase the Akzo Nobel group as a whole for €12.5 billion and split it with U.S.-based Sherwin-Williams. That offer was withdrawn a month ago.
Despite the multiple proposals for the decorative paints business, Akzo Nobel's management team did not engage with the Tokyo-listed group on the offer.