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The move for the Akzo unit follows an earlier attempt by Nippon Paint to buy the group as a whole and split it with Sherwin-Williams.

Nippon Paint has ​made multiple offers ‌for Akzo Nobel's decorative ​paints business ​in the past ⁠month, including ​a proposal ​valuing the unit at about 7.5 ​billion euros ($8.55 ​billion) last week, ‌Bloomberg ⁠News reported on Sunday, citing people familiar ​with ​the ⁠matter.

AkzoNobel shares were down 19% after Nippon Paint and Sherwin-Williams ended their pursuit of the company.

TOKYO and CLEVELAND, June 3, 2026 /PRNewswire/ -- Nippon Paint Group and Sherwin-Williams today announced that they have decided to end their efforts to jointly acquire AkzoNobel. The decision follows AkzoNobel's previously disclosed rejection of both joint all-cash offers put forward by Nippon Paint and Sherwin-Williams.

TOKYO and CLEVELAND, May 27, 2026 /PRNewswire/ -- Nippon Paint Group and Sherwin-Williams note today's press release issued by AkzoNobel regarding their proposal to acquire all of the issued and outstanding shares of AkzoNobel (the "Joint Proposal"). The Joint Proposal was rejected by the Boards of AkzoNobel, and Nippon Paint Group and Sherwin-Williams are considering their next steps, if any.