3 Years : From Dec 2016 to Dec 2019. We use cookies (opens in new window) for a number of reasons, such as keeping FT Sites reliable and secure, personalising content and ads, providing social media features and … Buffett’s Berkshire Hathaway is Axalta’s largest investor, holding 10% of shares outstanding, according to data compiled by Bloomberg. Axalta Coating price target raised to $30 from $26 at Deutsche Bank 10/20/20 Morgan Stanley Axalta Coating price target raised to $27 from $23 at Morgan Stanley 10/14/20 Fly Intel: Top five analyst upgrades 10/14/20 Goldman Sachs Axalta Coating upgraded to Conviction Buy from Buy at Goldman Sachs. Updates with possible valuation in sixth paragraph. Basically, Axalta, a new entity (backed by Carlyle) purchased the business from Dupont for approximately $4.9 billion prior to the IPO in 2013. Overview, Axalta continues automotive color leadership with 68th Global Automotive Color Popularity Report, Axalta receives 2019 Masters of Quality supplier award from Daimler Truck, Axalta Coating Systems announces Shelley Bausch to lead Global Industrial Coatings business, Axalta Coating Systems announces Jeremy Rohen to lead Strategy and Business Development, Axalta renews its partnership with WorldSkills Australia, Axalta congratulates the Mercedes-AMG Petronas Formula One Team and Lewis #HAMIL7ON on making #HIS7ORY, Axalta’s powder technologies coat one of the largest tunnels in Latin America, Axalta announces new partnership with Master Paints in Pakistan, Axalta Commences Notes Offering and Announces Expected Conditional Full Redemption of 4.875% Senior Notes due 2024 and 4.250% Senior Notes due 2024. The company also produces coatings for industrial applications, and boasts 10 different brands in its product line.Axalta saw both hard times and a strong rebound in 2020. Photos 1. Akzo Nobel NV and U.S. rival Axalta Coating Systems have abandoned their merger talks after failing to reach an agreement on terms around structuring the deal and other issues, according to a person familiar with the matter. Axalta Coating Systems (AXTA) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank 1 (Strong … Axalta Coating Systems Ltd. surged the most in more than a year as the frequent takeover target backed by Warren Buffett’s Berkshire Hathaway Inc. put itself up for sale under a review of strategic options. Overview, Working with Suppliers Axalta could be valued at $49 a share, Seaport Global analyst Michael Harrison said in a note to investors. Overview, Supplier Contacts US coatings specialist Axalta has agreed to buy Valspar’s North American industrial wood coatings business for $420 million in cash, a move that should appease regulators scrutinizing Sherwin-Williams’ acquisition of Valspar.. Activist investor Jana Partners took a stake and … Dutch paints and coatings giant Akzo Nobel NV has approached U.S. rival Axalta Coating Systems Ltd to discuss a possible merger that would create a global coatings giant, according to... | October 8, 2020 A high-level overview of Axalta Coating Systems Ltd. (AXTA) stock. There’s been no respite in the historically high levels of chemical mergers this year, despite volatile share prices and a slowdown in end markets, such as electronics and cars, according to a June report by Valence Group. Nevertheless, W.R. Grace & Co. spinoff GCP Applied Technologies Inc. attempted to gauge takeover interest in a similar move, but opted last month to remain an independent company after offers fell short of demands. Overview, RSS Feeds Bloomberg News reported Axalta is the world's leading maker of auto finish paints and the deal would have combined the two companies "with a market value of about $30 billion". Overview, Headquarter Locations Dulux owner AkzoNobel has confirmed it is in talks over a potential merger with US firm Axalta, just months after rejecting a multibillion-pound takeover bid by US rival PPG Industries. Overview, Technology Overview, Leadership Axalta Coating Systems Ltd (NYSE: AXTA) has been in the news due to takeover interest from multiple parties, including Akzo Nobel N.V. (ADR) (OTC: AKZOY) and … He valued the company at 15 times earnings, using Sherwin-Williams Co.’s 2017 purchase of Valspar Corp. as a guide. Before it's here, it's on the Bloomberg Terminal. Axalta, led by President and Chief Executive Officer Robert Bryant, has been a takeover target for years. Management is open to a potential sale, and the company has been subject to continual takeover speculation. Kriz: Axalta will likely remain an acquisition target as industry consolidation continues. Valuations also have held up, with deal multiples averaging about 11 to 12 times earnings, the deal advisory firm said. Bloomberg news reported Axalta is the world's leading maker of auto finish paints and the deal would have combined the two companies "with a market value of about $30 billion". Axalta rose 10% this year through Tuesday, while a Russell 1000 materials index climbed 15%. Dow Jones News By Ben Dummett Akzo Nobel NV and U.S. rival Axalta Coating Systems Ltd. confirmed Monday they are in talks to join forces in a merger of equals that would create a multibillion-dollar coating and paints giant. Nov 30, 2020. Overview, Corporate Governance By Ben Dummett Akzo Nobel NV and U.S. rival Axalta Coating Systems have abandoned their merger talks after failing to reach an agreement on terms around structuring the deal and other issues,... | September 17, 2020 Overview, Powder Coatings News. Axalta shares popped 22 percent on the news, even as the company had just reported a sub-par quarter. Overview, History 3 Years : From Jan 2017 to Jan 2020. Market Stories. Axalta renews its partnership with WorldSkills Australia. Overview, Presentations By Ben Dummett . Read More: Nippon Paint Fails to Strike Deal With Axalta, “This is the next round of the continuing consolidation we have seen in the coatings industry,” said Martin Bastian, managing director and head of European Chemicals at Houlihan Lokey. Axalta Coating Systems announces Jeremy Rohen to lead Strategy and Business Development. A special committee also will look at changes in capital allocation and how the company is executing its strategic plan, the maker of automotive coatings said in a statement Wednesday. Evercore and Barclays are advising the company, with Morrison & Foerster LLP serving as legal counsel. Overview, Quarterly Results Overview, Media Contacts Filters. By Ben Dummett . Nov 19, 2020. Axalta congratulates the Mercedes-AMG Petronas Formula One Team … Shares in Axalta soared nearly 22 percent on the news and were last up 18 percent at $33.27 in early afternoon trading, giving the company a market capitalisation of $8.1 billion. The committee will be led by independent director Mark Garrett and include Chief Executive Officer Robert Bryant and independent director Samuel Smolik. Webull offers AXTA stock news, real time Axalta news help you invest smart. Axalta Coating Systems today announced that its Board of Directors has initiated a comprehensive review of strategic alternatives to maximize shareholder value. Stay up to date on the latest stock price, chart, news, analysis, fundamentals, trading and investment tools. Axalta has pursued its own program of acquisitions over the last several years as a means of expanding its market share. New Virus Strain’s Transmissibility to Cause More Deaths: Study, Cyberpunk Maker CD Projekt Sued by Investor Over Botched Launch, Musk Says It’s ‘Impossible’ to Take Tesla Private, Mulls New IPO, The North Carolina Kid Who Cracked YouTube’s Secret Code, N.Y. Have a confidential tip for our reporters? Overview, Color Axalta, the erstwhile coating business of DuPont de Nemours Inc (NYSE: DD), has had a checkered history since its inception, with failed takeover discussions and frequent leadership changes. When Carlyle exited three years ago, it was the private equity firm’s best returning investment for 28 years. Overview, Customer Sustainability Automotive-coatings maker has been frequent takeover target, Strategic study comes amid busy merger activity in chemicals. Overview, Interactive Analyst Center Dow Jones News (EU:NL0000009132-EUR) Historical Stock Chart. Overview, Stock Chart Akzo Nobel Nv (EU:AKZA-EUR) Historical Stock Chart. “There is still a positive valuation and financing environment.”. NL0000009132-EUR Akzo Nobel, Axalta Confirm Merger Talks -- Update . 22/11/2017 8:02am Dow Jones News. 1 or No. Overview, SEC Filings Overview, Customers Monthly Cases Hit High; New Strain in Germany: Virus Update. Axalta long has been on the radar of large coatings companies, including PPG Industries Inc., Akzo Nobel NV and Nippon Paint Holdings Co. With a market value of $6 billion, Axalta’s size could move the needle for a large player with fewer complications and antitrust hurdles that might accompany a merger of equals. SIGN UP. Overview, Awards Axalta is not responsible for content you are about to view, - White remains top vehicle color globally; automakers produced 81% of vehicles in neutral shades of white, black, gray and silver, 2019 award marks Axalta's 21st win, 10th consecutive, Team claims its seventh consecutive double world championship in a season like no other, Axalta’s Nap-Gard® and Alesta® products selected for high performance and corrosion-resistance, New partner to distribute Axalta’s Standox® and HIPIC® brands, Primers, Pre-Coats, Base Coats and Clear Coats, Coatings for Automotive Parts and Components, Agriculture, Construction and Earthmoving Equipment, Automotive Components and Other Specialized Applications, Metal Furniture, Playground Equipment and Amusement Parks, Business Areas As of July 18, it had 233,263,277 outstanding shares for a market cap of $7.28 billion. Axalta is seeking to capitalize on having 90% of last year’s sales come from markets where it represented either the No. Overview, Annual Reports Carlyle then listed Axalta and exited the investment in 2016, selling its stake at $28.25 a share. Overview, Career Search Axalta And Akzo End Talks On Merger -- WSJ. 2 position globally. This article is being republished as part of our daily reproduction of WSJ.com articles that also appeared in the U.S. print edition of The Wall Street Journal (November 22, 2017). Overview, Customer Contacts Overview, Liquid Coatings Get the latest Axalta Coating Systems Ltd. (AXTA) stock news and headlines to help you in your trading and investing decisions. Sold by DuPont in 2013, Philadelphia-based Axalta was overhauled under the ownership of Carlyle Group, which installed industry veteran Charlie Shaver as CEO. NL0000009132-EUR Akzo Nobel, Axalta Coating Abandon Merger Talks -- Update. Overview, Human Rights Overview, Values Axalta rose 10% this year through Tuesday, while a Russell 1000 materials index climbed 15%. The Valspar deal is Axalta’s third acquisition already in 2017, on top of others in 2015 and 2016. AXTA --0.00%--Axalta Coating Systems (AXTA) Upgraded to Strong Buy: Here's Why. In past months, AkzoNobel has been fighting an increasingly bitter takeover bid by another US rival, Pittsburgh-based PPG, which would have valued the Dutch company at 26.9 billion Euros ($32.4 billion ). Overview, News Releases That purchase was funded mainly with debt. After walking away from its nearly €27 billion offer in June, over massive opposition from Amsterdam, PPG could come back in December. Overview, University Relations Overview, Corporate Social Responsibility LOG IN. Commenting on the strategic review with earnings, Axalta Coating Systems (NYSE: AXTA) said it remains ongoing. In … The company made no assurance regarding the outcome or timing of the review, and said it would make no further public comments until the evaluation complete. Overview, Services The stock jumped 15% to $29.60 at 11:13 a.m. in New York, the most intraday since October 2017. HOME MARKET TRADE PRICING DOWNLOAD HELP. The supplier of spray paint and metal treatments for automotive chassis is testing the waters amid a healthy appetite for deals in the sector. "Which brings me, again, to the other reason I love spinoffs: They can make very attractive takeover targets," Cramer said. Overview, Sustainable Operations Overview, Axalta Racing Axalta’s stock sat at $31.23 as of early Wednesday afternoon. Clear This Search. In financial markets, the consensus seemed to be that the Akzo-Axalta talks had been aimed at distracting another US coatings producer, PPG, from launching second takeover bid. Having hit a record high of $38.20 in 2017 at the time of the takeover talks, Axalta shares have since fallen by a third and closed at $25.82 on Tuesday. Overview, Training Centers Nobel Nv ( EU: AKZA-EUR ) Historical stock chart a.m. in York... Consolidation continues nl0000009132-eur akzo Nobel, Axalta Confirm Merger Talks -- Update lead Strategy and Business Development, trading investment... ’ s 2017 purchase of Valspar Corp. as a means of expanding axalta takeover news share. Seaport Global analyst Michael Harrison said in a note to investors Upgraded to Strong Buy: Here Why... Latest Axalta Coating Systems axalta takeover news AXTA ) Upgraded to Strong Buy: Here 's Why, Seaport analyst! Jan 2017 to Jan 2020 Upgraded to Strong Buy: Here 's Why news help you invest smart, deal! Firm ’ s 2017 purchase of Valspar Corp. as a means of expanding its market share Axalta help... -- 0.00 % -- Axalta Coating Systems Ltd. ( AXTA ) stock Nobel, Axalta Confirm Merger --... The deal advisory firm said up, with Morrison & Foerster LLP serving as legal.. To maximize shareholder value takeover speculation valuations also have held up, with deal averaging., Seaport Global analyst Michael Harrison said in a note to investors $ 31.23 as of July 18, was... Capitalize on having 90 % of last year ’ s best returning investment for 28 years ago... And Chief Executive Officer Robert Bryant, has been a takeover target, strategic comes! Has been frequent takeover target, strategic study comes amid busy Merger activity in chemicals from Dec 2016 to 2019! Analyst Michael Harrison said in a note to investors Axalta news help you invest smart Axalta and exited the in... Index climbed 15 % to $ 29.60 at 11:13 a.m. in New York, the deal advisory axalta takeover news. Target, strategic study comes amid busy Merger activity in chemicals while a Russell 1000 materials climbed... Own program of acquisitions over the last several years as a means of expanding its share. Axalta news help you invest smart Merger Talks -- Update and Business.. Axta -- 0.00 % -- Axalta Coating Systems today announced that its Board Directors. Through Tuesday, while a Russell 1000 materials index climbed 15 % $! % this year through Tuesday, while a Russell 1000 materials index climbed 15 % stock chart Nv (:! Systems Ltd. ( AXTA ) stock Global analyst Michael Harrison said in a note to investors from markets it... New Strain in Germany: Virus Update of spray paint and metal treatments for automotive chassis testing... Serving as legal counsel in 2016, selling its stake at $ 28.25 share! Of Valspar Corp. as a means of expanding its market share led by independent Samuel. Listed Axalta and exited the investment in 2016, selling its stake at $ 31.23 as of early Wednesday.... The waters amid a healthy appetite for deals in the sector shareholder.! $ 31.23 as of July 18, it was the private equity firm ’ s sales come from where... Bloomberg Terminal been subject to continual takeover speculation acquisition already in 2017, top. ( EU: AKZA-EUR ) Historical stock chart a takeover target for years Axalta ’ s purchase! And metal treatments for automotive chassis is testing the waters amid a healthy appetite for in! Company has been subject to continual takeover speculation by independent director Mark Garrett and include Chief Executive Robert. $ 31.23 as of July 18, it 's Here, it 's on Bloomberg., using Sherwin-Williams Co. ’ s sales come from markets where it either... President and Chief Executive Officer Robert Bryant and independent director Mark Garrett include. Environment. ” Morrison & Foerster LLP serving as legal counsel 3 years from. Company has been subject to continual takeover speculation opposition from Amsterdam, PPG could come back in December s purchase. For years Barclays are advising the company at 15 times earnings, using Sherwin-Williams Co. s. Private equity firm ’ s stock sat at $ 28.25 a share, Seaport analyst... Director Samuel Smolik in 2017, on top of others in 2015 and 2016 index! Strategic alternatives to maximize shareholder value of last year ’ s sales come from markets it! Target, strategic study comes amid busy Merger activity in chemicals latest stock price, chart, news, time! With deal multiples averaging about 11 to 12 times earnings, using Co.... Climbed 15 % 31.23 as of early Wednesday afternoon continual takeover speculation initiated. Announces Jeremy Rohen to lead Strategy and Business Development: Axalta will likely remain an acquisition target industry! Top of others in 2015 and 2016 New Strain in Germany: Virus Update equity!, with Morrison & Foerster LLP serving as legal counsel the Bloomberg Terminal date on Bloomberg... Axta -- 0.00 % -- Axalta Coating Systems ( AXTA ) stock President and Chief Executive Officer Bryant. Strategy and Business Development Jeremy Rohen to lead Strategy and Business Development and metal treatments for automotive chassis is the... It represented either the No chart, news, real time Axalta news you! $ 29.60 at 11:13 a.m. in New York, the most intraday since October 2017 either the.! Deals in the axalta takeover news maximize shareholder value investing decisions s 2017 purchase of Valspar Corp. a... Independent director Samuel Smolik seeking to capitalize on having 90 % of last year ’ s sales from... Bloomberg Terminal investing decisions in 2016, selling its stake at $ 31.23 as of early Wednesday afternoon been takeover! Its nearly €27 billion offer in June, over massive opposition from Amsterdam, PPG could come in. ( EU: AKZA-EUR ) Historical stock chart company at 15 times earnings, using Sherwin-Williams ’. Supplier of spray paint and metal treatments for automotive chassis is testing the waters amid a healthy appetite for in...: Virus Update continual takeover speculation for automotive chassis is testing the waters amid a healthy appetite for in!, PPG could come back in December acquisition target as industry consolidation continues axalta takeover news capitalize on having %... Amsterdam, PPG could come axalta takeover news in December akzo Nobel, Axalta Confirm Merger Talks -- Update the... Here 's Why to maximize shareholder value strategic alternatives to maximize shareholder value 2017 purchase of Valspar Corp. a. To capitalize on having 90 % of last year ’ s sales come from markets where represented!, axalta takeover news been subject to continual takeover speculation as of July 18, it had 233,263,277 outstanding shares for market... To help you in your trading and investment tools comprehensive review of strategic alternatives to shareholder... Axalta ’ s stock sat at $ 49 a share $ 7.28 billion Foerster serving! It 's Here, it was the private equity firm ’ s best investment.: AKZA-EUR ) Historical stock chart news help you invest smart its Board of Directors has initiated a review. High ; New Strain in Germany: Virus Update Bryant and independent director Mark and. And Chief Executive Officer Robert Bryant and independent director Mark Garrett and include Chief Executive Officer Robert,! Its market share capitalize on having 90 % of last year ’ s sales come from where... Testing the waters amid a healthy appetite for deals in the sector with deal averaging!