Shareholders of Dutch paint manufacturer AkzoNobel and US rival Axalta Coating Systems have officially approved a merger that will retire the historic AkzoNobel name, the companies announced in a joint statement. The transaction, which still requires regulatory clearances, is expected to close by late 2026 or early 2027. Under the approved terms, AkzoNobel shareholders will own 55% of the combined entity, while Axalta shareholders will hold the remaining 45%.
Despite AkzoNobel being the larger partner, the combined company will lose its Amsterdam stock listing and trade exclusively on Wall Street. The loss of the Amsterdam listing marks a significant symbolic shift for the Dutch corporate landscape, as AkzoNobel has long been a blue-chip staple of the Euronext Amsterdam index. However, the decision to trade solely on Wall Street is aimed at maximizing liquidity and valuation in the global specialty chemicals market. A new corporate name has not yet been announced.
The merged entity will retain a Dutch legal structure and maintain dual headquarters in Amsterdam and Philadelphia. Greg Poux-Guillaume, the current Chief Executive of AkzoNobel, is slated to lead the new combined firm. The companies project approximately €519 million in annual cost savings, with their combined annual revenue estimated at nearly €15 billion.
Before the transaction can close, antitrust regulators in both Europe and the United States must review the competitive impact of the merger. Given the massive scale of both enterprises in the industrial coatings sector, this regulatory review process is expected to be highly detailed. According to David Tomic, an analyst at the Dutch investors’ association VEB, the merger is strategically designed to expand AkzoNobel’s presence in coatings for aircraft, ships, and automobiles—sectors where Axalta holds key market strengths. While industrial coatings drive the merger, consumers are familiar with AkzoNobel through household brands such as Flexa, Alabastine, Cetabever, Hammerite, and Sikkens.
The merger plans were first disclosed in November. This final approval follows a period of intense consolidation pressure in the industry. Earlier in the summer of 2026, AkzoNobel’s board rejected a joint approach from Japan’s Nippon Paint and US-based Sherwin-Williams, as well as a subsequent solo bid by Nippon Paint for AkzoNobel’s consumer division. The corporate history also includes AkzoNobel’s rejection of repeated hostile takeover bids from PPG Industries in 2017, after which AkzoNobel made an unsuccessful attempt to acquire Axalta.