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Nippon Paint decides Axalta acquisition not worth the risks

Talks end as financial, environmental and antitrust concerns chip away at deal

Nippon Paint ultimately reconsidered plans to acquire Axalta in light of environmental, antitrust and financing concerns.   © Reuters

OSAKA -- Nippon Paint Holdings scrapped its roughly 1 trillion yen ($8.9 billion) takeover of U.S. company Axalta Coating Systems amid nagging concerns about exposure to environmental risks, potential antitrust roadblocks and how to pay for the deal.

Nippon Paint President Tetsushi Tado relayed the decision by telephone to Axalta CEO Charles Shaver following the fateful board meeting Thursday night. The group made the announcement Friday.

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