AkzoNobel Stocks Collapse After Nippon Paint and Sherwin-Williams Withdraw Bid
AkzoNobel shares plunged about 19% in early trading after Nippon Paint and Sherwin-Williams abandoned their joint bid for the Amsterdam-based paint and coatings maker. The withdrawal followed AkzoNobel's rejection last week of a €12.5 billion all-cash, non-binding proposal that would have split the business between the two buyers. AkzoNobel's board…