USA –   Akzo Nobel and Axalta have announced a definitive all-stock merger agreement, creating a new global coatings leader with an estimated enterprise value of USD 25 billion and combined annual revenue of USD 17 billion.

Under the terms of the deal, Axalta shareholders will receive 0.6539 Akzo Nobel shares for each Axalta share. Akzo Nobel will control 55% of the merged company, which will operate with dual headquarters in Amsterdam and Philadelphia, and maintain a presence in more than 160 countries.

The merger brings together complementary strengths across powder coatings, industrial and automotive finishes, aerospace, marine and protective coatings, and decorative paints.

Both companies emphasize that the combination will enhance innovation capabilities, expand commercial reach, and generate USD 600 million in expected synergies, most within the first three years after closing.

The transaction is expected to close in late 2026 or early 2027, pending regulatory and shareholder approvals.