TITLE

Akzo Nobel to Acquire ICI for $16.1 Billion in Cash

AUTHOR(S)
Walsh, Kerri
PUB. DATE
August 2007
SOURCE
Chemical Week;8/15/2007, Vol. 169 Issue 27, p6
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article reports on the acquisition of ICI by Akzo Nobel. The agreed offer is at £6.79/share, of which £6.70 is in cash, and the remainder is in dividends. Akzo claims it will fund the ICI deal with proceeds from the Henkel agreement, as well as proceeds from the sale of Akzo's Organon BioSciences pharmaceuticals business to Schering-Plough for €11 billion. According to Akzo CEO Hans Wijers, it is too early to discuss job cuts and any possible antitrust issues arising from the ICI deal.
ACCESSION #
26363335

 

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