PPG Industries, Inc.

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Tikkurila: PPG Industries Announces Voluntary Recommended Public Cash Tender Offer For All Shares In Co

Published: 12/18/2020 07:42 GMT
PPG Industries, Inc. (PPG) - Ppg Industries, Inc. Announces a Voluntary Recommended Public Cash Tender Offer for All the Shares in Tikkurila Oyj.company's Shareholders Will Be Offered a Cash Consideration of EUR 25.00 for Each Share.
Tender Offer Values Company's Total Equity at Approximately EUR 1.1 Billion.
Members of Board of Directors of Company Decided to Recommend That Shareholders of Company Accept Tender Offer.
Offer Price Represents a Premium of Approximately 66.2 per Cent Compared to Closing Price.
Offeror Sees Significant Value and Potential in Tikkurila and Accordingly Expects to Make Substantial Investments in Tikkurila's Technology.completion of Tender Offer is Not Expected to Have Any Immediate Material Effects on Operations.
Tender Offer is Currently Expected to Be Completed During First Half of 2021.