Published by Global Banking & Finance Review®
Posted on November 19, 2025
1 min readLast updated: January 20, 2026
Add as preferred source on GoogleArtisan Partners opposes Axalta's merger with AkzoNobel, urging shareholders to reject the $25 billion deal. They are open to other buyers.
By Svea Herbst-Bayliss
NEW YORK (Reuters) -Investor Artisan Partners is unhappy with Axalta Coating Systems' plan to combine with AkzoNobel in an all-stock deal that would create a paint industry giant with an enterprise value of $25 billion, according to a letter to shareholders.
"As an Axalta shareholder, we believe the only proper response to this proposed transaction is an absolute and resounding “NO,” Artisan Partners fund managers Daniel O'Keefe and Michael McKinnon wrote in a letter to Axalta shareholders, which was seen by Reuters.
The pair also said they would interested speaking with any other interested buyers.
(Reporting by Svea Herbst-Bayliss; Editing by Leslie Adler)
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