AkzoNobel and Axalta Coating Systems have won shareholder approval for their proposed all-share merger of equals, clearing a key hurdle in the deal process. Votes at AkzoNobel’s extraordinary general meeting and Axalta’s special general meeting on 5 August backed the transaction, which now moves on to regulatory review and other closing conditions.
The agreement would combine two major coatings groups into a larger global business spanning automotive refinish, industrial, marine, protective and decorative coatings. AkzoNobel has identified Greg Poux-Guillaume as chief executive of the combined company, while supervisory board chair Ben Noteboom is set to become vice-chair.
The companies expect the transaction to close at the end of 2026 or in early 2027, subject to the remaining approvals. A joint update in late July refined the governance framework after talks with shareholders, including annual re-election of directors after an initial three-year period.