Dulux owner Akzo Nobel plummets 19% after takeover talks fall through
US President Donald Trump holds a bilateral meeting with European Commission President Ursula Von der Leyen on the sidelines of the United Nations General Assembly
US President Donald Trump holds a bilateral meeting with European Commission President Ursula Von der Leyen on the sidelines of the United Nations General Assembly in New York City on September 23, 2025. European stocks dipped on Wednesday, as investors weighed U.S. proposals for sweeping new tariffs on 60 countries. Shortly after 10:50 a.m. in London, the pan-European Stoxx 600 index was seen down 0.4%, with sectors and regional bourses painting a mixed picture.
The U.K's FTSE 100 was down 0.2% in morning trade, while France's Cac 40 lost 0.3% and Germany's Dax fell 1%. Akzo Nobel was last trading down 19% after a proposed takeover by Nippon Paint and Sherwin-Williams fell through. Akzo Nobel, whose brands include Dulux, had previously rejected a joint cash takeover offer worth 73 euros ($85) per share.
AkzoNobel said at the time that the offer "did not come close" to adequately reflecting its value and long-term prospects, adding that the plan offered "insufficient deal certainty" over the separation of the business, with its shareholders "not adequately safeguarded." On Wednesday, the company took note of a statement from Nippon Paint and Sherwin-Williams confirming that they were no longer interested in pursuing a public offer.
In other corporate news, Zara owner Inditex updated investors on its fiscal first-quarter earnings on Wednesday. The stock was last trading 3.7% higher.
The BriefWire