By Austen Hufford
PPG Industries Inc. raised its offer price for the second time for Dutch paint and chemicals maker Akzo Nobel NV, extending the monthslong takeover battle.
PPG increased its offer to acquire Akzo Nobel to EUR96.75 (about $105.05) a share from EUR88.72 previously.
Akzo Nobel had said that previous offers undervalued the company and don't warrant further talks. A representative from the company said they would comment shortly on the raised offer price.
PPG said its latest offer represents "one last invitation" to Akzo Nobel's board.
(More to come.)
Write to Austen Hufford at [email protected]