PPG Announces Improved Offer For Tikkurila - Quick Facts

(RTTNews) - PPG (PPG) and Tikkurila have entered into an amendment to their combination agreement. Under the improved offer, Tikkurila shareholders would receive 34.00 euros in cash for each share of Tikkurila stock they own, for a total transaction value of approximately 1.52 billion euros, including the assumption of debt and cash. This follows Tikkurila's receipt of an offer from AkzoNobel.

Tikkurila's Board has unanimously recommended that its shareholders accept PPG's improved offer. Certain major shareholders of Tikkurila, representing approximately 29.34% ownership in the aggregate, have agreed to sell their shares to PPG.

The tender offer began on January 15, and is anticipated to expire on March 15 unless extended by PPG.