Akzo Nobel N.V. and Axalta Coating Systems Ltd. have agreed to merge in an all-stock deal, creating a global coatings company valued at around $25 billion. AkzoNobel shareholders will own 55% of the new company, while Axalta shareholders will own 45%. The combined entity will have a new name and ticker symbol, with shares listed solely on the NYSE after a dual listing period. Current AkzoNobel CEO will lead the new company, with the Axalta CEO as Deputy CEO and Axalta CFO as the CFO of the combined company. AkzoNobel CFO will retire. Share buyback programs are suspended.

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Read more at NASDAQ.: Akzo Nobel, Axalta Coating Systems Announce All-stock Merger Of Equals