Axalta Shareholders Approve Proposed Merger of Equals with AkzoNobel

Axalta Coating Systems Ltd. (NYSE: AXTA) announced that its shareholders have voted to approve an all-stock merger of equals with Akzo Nobel N.V. This decision was made during the Company’s Special General Meeting of Shareholders on August 5, 2026. AkzoNobel also held an Extraordinary General Meeting on the same day, where its shareholders similarly voted in favor of the merger.

Chris Villavarayan, the Chief Executive Officer of Axalta, expressed gratitude for the strong support from shareholders, highlighting the merger's potential to provide significant value to shareholders, customers, and employees. He noted the company's positive momentum following a strong second quarter and indicated that teams are focused on integration planning to combine the two businesses effectively.

Rakesh Sachdev, Chair of the Axalta Board of Directors, described the merger approval as a crucial step toward forming a leading global coatings company. He affirmed his belief that the merger would result in a differentiated industry leader capable of driving innovation and growth.

The merger is subject to necessary regulatory approvals and other customary closing conditions, with expectations for completion in late 2026 to early 2027. Final voting results will be certified and filed appropriately with the U.S. Securities and Exchange Commission.

Axalta, with over 150 years of experience in the coatings industry, is known for providing innovative, sustainable coating solutions to a wide range of industries. The company aims to better serve its global customer base, consisting of more than 100,000 customers in over 140 countries.