Update on the UK Competition and Markets Authority’s review of the AkzoNobel-Axalta merger

AkzoNobel and Axalta are reviewing the UK Competition and Markets Authority's Phase 1 decision on their proposed merger, which identified competition concerns in vehicle refinish coatings supply in the UK. The companies plan to address this with the same remedy package already agreed with the European Commission, involving divestment of AkzoNobel's European VR coatings business. The merger is expected to create a global coatings company with approximately $17 billion in revenue and is targeted for completion by early 2027.