GBAF Logo
Global Banking & Finance Awards® 2026 Nominations open, free to enter Nominate now →
Conditional EU antitrust approval expected for AkzoNobel, Axalta deal, sources say - Finance news and analysis from Global Banking & Finance Review
Finance

Conditional EU antitrust approval expected for AkzoNobel, Axalta deal, sources say

Published by Global Banking & Finance Review

Posted on October 8, 2026

2 min read

· Last updated: October 8, 2026

Add as preferred source on Google

EU Likely to Approve AkzoNobel, Axalta $25B Merger After Antitrust Review

Overview of the AkzoNobel and Axalta Merger

By Foo Yun Chee

EU Antitrust Approval and Remedies

BRUSSELS, Oct 8 (Reuters) - Dulux paint maker AkzoNobel and US peer Axalta Coating Systems are set to win EU antitrust approval for their $25 billion merger with a pledge to sell Axalta's vehicle refinish business to address competition concerns, people familiar with the matter said.

Background of the Merger Deal

The companies announced the deal in November last year, underscoring a wave of consolidation among paint makers to save money in the face of rising costs and amid uncertainties created by US President Donald Trump's tariffs.

Comments from Stakeholders

The European Commission, which is the EU competition enforcer, AkzoNobel and Axalta declined to comment.

Regulatory Process and Timeline

Meetings and Offer Submission

The companies, which met with the EU watchdog on Wednesday to discuss the deal and possible remedies, will put in their offer next week. This will then extend the current Commission's October 22 deadline by 10 working days.

Resolution of Competition Concerns

Earlier concerns about the overlaps in the powder coatings business have been resolved, leaving the vehicle refinish business as the only issue to be addressed, the people said.

Market Impact and Competitors

Axalta's Market Position

Axalta exclusively makes coatings, with a strong presence in the US market. Rivals to the companies include BASF's coatings business, Nippon Paint, Sherwin-Williams and Kansai Nerolac.

Industry Context

(Reporting by Foo Yun Chee; Editing by Jan Harvey)

Key Takeaways

  • The EU merger deadline of October 22, 2026, will be extended by 10 working days, with formal remedies submitted next week.
  • Previously flagged overlaps in powder coatings have been cleared; vehicle refinish remains the key remaining issue for approval.
  • The merger, announced in November 2025, is structured as an all‑stock ‘merger of equals,’ with combined operations headquartered in Amsterdam and Philadelphia, and expected to close in late 2026 to early 2027.

Frequently Asked Questions

Why do AkzoNobel and Axalta need EU antitrust approval for their merger?
The merger requires EU antitrust approval to ensure it does not harm competition in the coatings and paint industry within the European market.
What remedy are AkzoNobel and Axalta offering to address EU competition concerns?
They plan to sell Axalta's vehicle refinish business to address the European Commission's competition concerns.
What is the value of the AkzoNobel and Axalta merger?
The merger between AkzoNobel and Axalta Coating Systems is valued at $25 billion.
Which competitors are mentioned in the article?
Competitors include BASF's coatings business, Nippon Paint, Sherwin-Williams, and Kansai Nerolac.
What is the next step in the EU antitrust review process for this deal?
The companies will submit their offer next week, which will extend the European Commission's review deadline by 10 working days.

Tags

Related Articles

More from Finance

Explore more articles in the Finance category