Nippon Paint Holdings Co., a leading Japanese paint manufacturer, has reportedly submitted an acquisition proposal for AkzoNobel's decorative paint business unit. The offer is valued at €7.5 billion, equivalent to US$ 8.55 billion or approximately Rp 139 trillion. The company announced this strategic move on Monday (13/7/2026) as part of its efforts to expand its global market share.
This move is a continuation of previous business maneuvers, where Nippon Paint had teamed up with US-based paint company Sherwin-Williams to acquire the entirety of AkzoNobel's operations for €12.5 billion. However, that proposal was rejected last May as it was deemed not to reflect the company's intrinsic value, leading the consortium to withdraw from the negotiation process.
To date, AkzoNobel has reportedly not provided an official response to the latest proposal. A report from Bloomberg News indicated that the owner of the Dulux brand has not even initiated internal discussions or informed shareholders of the offer, despite Nippon Paint having made several bids over the past month.
Amid these pressures, AkzoNobel remains committed to its planned merger with US-based coatings manufacturer Axalta. Both entities are scheduled to hold shareholder meetings on August 5 to make a final decision regarding the proposed merger.
This corporate action reflects the consolidation trend sweeping the global paint industry. Major players in the global market are currently facing tough challenges, ranging from rising production costs to trade uncertainty stemming from US import tariff policies, driving many companies to seek efficiencies through mergers and acquisitions.
