Amsterdam - AkzoNobel has declined a third unsolicited offer by PPG to purchase the company. The proposed offer was valued at approximately European dollar 26.9 billion, or $28.8 billion. In a statement released on May 8. AkzoNobel said that it would follow the strategy for the company outlined in April, in which it will spin off its chemicals business, stating that the plan ‘offers a superior route to growth and long-term value creation and is in the best interests of shareholders and all other stakeholders.’
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