Bid for Dulux proprietor AkzoNobel raised once more

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US agency PPG has elevated its bid for Dulux homeowners AkzoNobel for the second time.

The supply, of 96.75 euros per AkzoNobel share, is eight% larger than it provided on 22 March, and 17% larger than its opening supply of two March.

AkzoNobel has been attempting to repel the bid by asserting plans to spin off its chemical substances unit and return a lot of the proceeds to shareholders.

PPG has mentioned a merger may end in financial savings price a minimum of $750m.