Active situationIndustrialsOngoing·Updated Apr 30, 2026·Published Nov 19, 2025
Axalta Coating Systems / AkzoNobel — $9bn industrials deal
AXTA / AKZA:NA
CMA comment period ends May 1; EC formal filing pending (Phase 2 probe likely on powder coatings). Shareholder votes targeted for mid-July. All-stock merger of equals creating #2 global coatings company behind Sherwin-Williams.
CT
CTFN Editorial
Active Situations Desk · ctfn.news
Deal snapshot — free previewOngoing
Next event
EC — Phase I decision (25 working days)
Jun 26, 2026· in 10d
CTFN estimated close
Dec 31, 2026
Key risks
EC may require divestitures in Europe as the merging parties may control up to 50% of the powder coating market, as well as a significant portion of the vehicle refinish market. The potential divestiture process will likely have a significant impact on timing.
Members only
Full intelligence on this situation
Subscribe to unlock CTFN analysis, regulatory lifecycle tracking, deal documents, shareholder activism, and proprietary closing estimates.
- Full CTFN editorial analysis + risk factors
- Per-regulator filing lifecycle with step tracking
- Shareholder activism + voting agreements
- Deal documents, advisors, key facts
- Watchlist alerts when situations move