Amsterdam - Shareholders of Akzo Nobel NV voted firmly in favour of the Dutch group's proposed purchase of Imperial Chemical Industries plc on 5 Nov. 8, 07
"We have taken a major step towards crating a global industrial leader in coatings and speciality chemicals which will provide significant benefits for shareholders, employees and other stakeholders," commented Akzo Nobel ceo Hans Wijers, in a company statement.
"The deal is about growth," Wijers stressed, "It's about combining the expertise, technologies, products and brands that both companies have developed, and achieving leadership positions across different global markets to create a strong platform for future growth.
Akzo Nobel offers an extensive coating range, covering all types of markets, from automotive and appliance through to construction and industrial uses, some of which use polyurethane-based materials.
The offer Akzo Nobel made for ICI, on 6 August 2007, was for 670 pence per share in cash, in a deal under which Akzo Nobel also contracted to sell ICI's Adhesives and the Electronic Materials divisions- both part of National Starch - to Henkel for £2700 million ($5700 million) in cash.