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AkzoNobel's acquisition of Dulux will complete the ICI market today
On January 3, 2008, AkzoNobel officially confirmed that it would finalize its acquisition of British paint and coatings company ICI (Imperial Chemical Industries) on the same day. The deal was valued at £8 billion, marking one of the largest transactions in the global paints industry at the time. Following the completion of the acquisition, ICI would continue to operate under AkzoNobel's umbrella, with its headquarters remaining in London, while its stock would be listed on the London Stock Exchange.
In a formal statement, AkzoNobel explained that ICI shareholders would receive £6.70 for each share they held, along with an additional interim dividend of £0.05 per share. This move was aimed at ensuring a fair and transparent transition for ICI’s shareholders, as the company became part of AkzoNobel's expanding global portfolio. The acquisition was expected to strengthen AkzoNobel's position in the international market, particularly in Europe, and enhance its product offerings and customer base. The deal also signaled a strategic shift in the competitive landscape of the paint and coatings sector, with AkzoNobel solidifying its leadership in the industry.