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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