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Exclusive - Nippon offer prompted Axalta to end Akzo Nobel merger talks: source

Reuters

(Reuters) - Japan's Nippon Paint Holdings Co Ltd <4612.T> made an all-cash offer on Tuesday to acquire Axalta Coating Systems Ltd <AXTA.N>, a source familiar with the matter said, prompting Axalta to end merger talks with Akzo Nobel NV <AKZO.AS>.

Nippon's offer came at a premium to where Axalta shares ended trading on Monday, the source said, asking not to be identified because the matter is confidential.

Nippon did not immediately respond to a request for comment, while Akzo Nobel and Axalta declined to comment.

(Reporting by Greg Roumeliotis in New York; Editing by Chris Reese)