“If they follow the trend of the Kraft takeover of Cadbury, we can forget about vivid colours, and look forward to a grey future”
The US giant planning a swoop on Dulux owner Akzo Nobel claims to have rallied the support of almost every one of the firm’s biggest 20 shareholders
PPG wants to clinch a £19.4bn bid for Akzo, prompting fresh fears over worker pensions and thousands of UK jobs.
Michael McGarry, boss of Pittsburgh-based PPG, said it had been in contact with nearly all Akzo’s top-20 investors, who were ‘virtually unanimous’ in backing the two parties getting together.