:. Food Industry News

Categories: Mergers and Acquisitions

Akzo Nobel Publishes Circular for ICI Takeover

Source: Reuters
01/10/2007

Amsterdam, Oct 1 - Dutch chemical group Akzo Nobel NV published details on Monday of a shareholder meeting for its offer for Britain's ICI, saying that it expects the deal to close in three months.

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Akzo Nobel in August agreed to buy Imperial Chemical Industries Plc (ICI), which makes Dulux paints, for 8 billion pounds to create the world's biggest paint maker and retain its lead in industrial coatings.

Akzo said that it sees operating cost savings and other synergies of 2.5 billion euros, post-tax, after implementation costs.



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