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News  ›  GlobeNewswire Inc.

Artisan Partners Global Value Releases Statement on Axalta

GlobeNewswire Inc. Logo GlobeNewswire Inc. • •By Artisan Partners Global Value Team
Artisan Partners Global Value Releases Statement on Axalta

Artisan Partners, holding 1.4 million Axalta shares, strongly opposes the proposed all-stock merger between Axalta and Akzo Nobel, arguing that Axalta is selling a well-performing business at an undervalued price to an inferior company with a poor financial track record.

Insights
AXTA   negative

Management recently highlighted strong financial performance and plans for share buybacks, but suddenly agreed to merge at a seemingly low valuation, which Artisan Partners views as detrimental to shareholders