0907 GMT - A potential Sherwin-Williams and Nippon Paint takeover of Dutch rival AkzoNobel might require a rejection by Akzo shareholders of a merger deal with Axalta Coating Systems and a revised offer, UBS analysts say in a note. The revised proposal would need to address valuation, certainty that the planned acquisition and split of Akzo can be executed, and stakeholder concerns, according to UBS. The current situation mirrors PPG Industries' attempt to take over Akzo in 2017, which was rejected by the Dutch company's management and supervisory boards and ended up in a court dispute, UBS says. "While there may be a theoretical shareholder pathway via removal of the board or legal challenge, in practice this route has proven difficult to execute," the analysts say. Akzo shares rise 0.7%, Nippon Paint closes 0.3% lower and Sherwin's shares are broadly unchanged in U.S. premarket trading. (adria.calatayud@wsj.com)

(END) Dow Jones Newswires

May 28, 2026 05:07 ET (09:07 GMT)

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