Following a string of market speculations and later confirmation from AkzoNobel that it was indeed in constructive discussions to merge the AkzoNobel Paints and Coatings business with Axalta, the two companies have now ended the merger discussions.

Thierry Vanlancker, CEO of AkzoNobel, said: “I am confident that our strategy offers significant value for shareholders and other stakeholders in the short, medium and long term. We remain focused on our strategic options to continue to develop our business and improve profitability in the future.”