Axalta Coating Systems and AkzoNobel shareholders have overwhelmingly approved the companies’ planned all-stock merger of equals, clearing a major milestone toward the creation of a global coatings powerhouse.
The approvals move the proposed combination into its next phase as the companies work toward completing the merger, which is expected in late 2026 to early 2027, subject to regulatory clearances and other customary closing conditions.
“We appreciate the strong support we have received for our merger of equals with AkzoNobel and we are excited about the opportunity to deliver significant value to shareholders, customers and employees,” said Chris Villavarayan, Chief Executive Officer of Axalta.
“Building on our record second quarter, we are excited to embark on our next phase with real momentum in the business. Our teams are working diligently to advance integration planning and remain focused on bringing together two highly complementary businesses to capture the full value of this combination from day one.”
The deal is designed to unite two major coatings businesses, creating a broader global platform spanning technologies, customers and markets while positioning the combined company for further growth.
“Today’s approval marks an important milestone toward creating a premier global coatings company,” said Rakesh Sachdev, Chair of the Axalta Board of Directors.
“The resounding support reaffirms our conviction that combining Axalta and AkzoNobel will create a differentiated industry leader with broad capabilities, world-class innovation and an even stronger platform for growth and value creation. I look forward to working with our combined team to deliver on the promise of this combination.”
The merger is not yet complete. The companies must still secure required regulatory approvals and satisfy other closing conditions before the transaction can proceed.
The shareholder votes mark a significant step forward for the deal, but regulatory approvals remain the key remaining hurdle before the combination can close.
