(Reuters) - Buyout firm Clayton, Dubilier & Rice LLC is in talks to partner with U.S. paint maker PPG Industries Inc to make an acquisition offer for Axalta Coating Systems Inc, the U.S. coatings company whose largest shareholder is Warren Buffett’s Berkshire Hathaway Inc, people familiar with the matter said on … Axalta Coating price target raised to $30 from $26 at Deutsche Bank 10/20/20 Morgan Stanley Axalta Coating price target raised to $27 from $23 at Morgan Stanley ... William Blair sees near-term takeover of Perspecta as unlikely despite Jana news 04/02/20 Wells Fargo Perspecta price target lowered to $18.50 from $26 at … PPG is currently on an acquisition spree, snapping up smaller coatings companies. 25.93 0.00 (0.0%) The former DuPont paint and coatings business is downsizing its operations and closing its Center City Philadelphia headquarters. 15.40%. Citing “people familiar with the matter,” Reuters reported in September 2019 that PPG was speaking with Clayton, Dubilier & Rice about teaming up with the buyout firm on an Axalta acquisition. That purchase was funded mainly with debt. AXTA stock brief. Axalta, a U.S. coatings company, has a roughly $7 billion market cap, the story said. The stock has a 52-week high of $30.94 and a 52-week low of $21.58. Axalta Coating Systems Ltd.AXTA was a big mover last session, as the company saw its shares rise nearly 6% on the day. Close on Nov 11th, 2020. Only days after announcing an end to buyout talks with AkzoNobel, Axalta has revealed it is now in discussion with Nippon Paint, as Nippon looks to acquire the industry giant. Axalta Coating Systems stock slided -1.46% to close at $27.63 on the stock market on … Axalta may sell for US$40 a share, based on the 15-times earnings multiple paid by Sherwin-Williams Co for Valspar Corp earlier this year, he said. Axalta's balance sheet appears to be in good shape, even though debt is on the higher side, which is a function of the company's IPO. News Stock sectors Watchlists. According to Reuters, the latest offer from Nippon Paint was for $37 per share in cash, a price Axalta's management didn't think was enough to complete a buyout. Axalta Coating Systems Ltd has formed a board committee to explore a sale, Reuters reported. Related Links: Axalta Coating Systems (NYSE: AXTA) has made an agreement with The Valspar Corp. (NYSE: VAL) and The Sherwin-Williams Co. (NYSE: SHW) to acquire Valspar’s North American industrial wood coatings business. Axalta Coating Systems shares traded higher by 0.8% at $30.25 in Monday's pre-market session. Axalta, which describes itself as a leading global coatings provider active in the development, manufacturing, delivery and service of liquid and power coatings, employs around 14,000 people and has a customer base … When Carlyle Group orchestrated a $4.9 billion buyout of DuPont's auto-paint business in 2013, some competitors said the private equity firm overpaid. They provide a range of performance and transportation coatings for manufacturers of light and commercial vehicles, the refinish aftermarket and for many industrial applications. Islanders News: Another buyout window opens, but it’s a mirage. Unlimited access to E-Edition Unlimited access to the billingsgazette.com website and apps No more surveys blocking articles Axalta, a global supplier of liquid and powder coatings, announced that it has completed the acquisition of Capital Paints, a UAE-based thermosetting powder coatings manufacturer. By Dominik @LHHockey Nov 6, 2020, 7:15am EST Share this story. PPG is in talks with buyout firm Clayton, Dubilier & Rice LLC to bid on Axalta Coating Systems Inc., Reuters reported, citing people familiar with the matter. About Axalta Axalta is a global leader in the coatings industry, providing customers with innovative, colorful, beautiful and … Investors say Pittsburgh-based PPG and Japan's Kansai are among likely acquirers for Philadelphia's Axalta, the auto-paint giant, but there's no guarantee of a deal. Axalta acquires Capital Paints, a thermosetting powder coatings manufacturer. Axalta Coating Systems is a global coatings company dedicated solely to the development, manufacture and sale of liquid and powder coatings. Axalta rebuffed acquisition approaches in 2017 from Akzo Nobel and Nippon Paint Holdings. Published: November 11th, 2020 - 10.13pm EST. Axalta Coating Systems Ltd. is one of the world's leading coatings companies. 3 months performance. The company released a statement indicating it will enter into discussions with Nippon to determine the most suitable outcome for Axalta. Follow AXTA. A tie-up between Axalta and Akzo is “logical” given the rapidly consolidating coatings industry, Ghansham Panjabi, an analyst at Robert W. Baird & Co, said in a note. The Wall Street Journal mused last week that, despite being flush with cash and a brand new $13 billion fund, Carlyle has been struggling to find candidates for bigger buyouts like Axalta, and has been looking instead at smaller deals to commit its capital, like its $500 million minority stake in Beats Electronics, signed … New, 171 comments. AkzoNobel’s Merger Plan With Axalta Set to Create PPG Deterrent AkzoNobel successfully rebuffed an unsolicited $29 billion buyout offer this year, coming under intense shareholder pressure in the process from activist investor Elliott Management Corp., which had pushed for tie-up talks. Axalta was formed as a leveraged buyout of DuPont's Performance Coatings business by an affiliate of Carlyle Group in 2013, became a public company through an initial public offering in 2014, and Carlyle exited by selling its remaining shares … Axalta rebuffed acquisition approaches in 2017 from Akzo Nobel and Nippon Paint Holdings Co Ltd 4612.T. $27.63-1.46%. “to more closely align its global organization with its two global business segments to drive improved performance. Premium subscribers receive complete access to our daily breaking news, premium stories, weekly Fundraising & IR Review, Knowledge Bank and LP profiles - all which are accessible via our mobile platform. This realignment … It’s another date on the CBA calendar, but it would be a shock to see an Isles move. 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