PPG Industries, Inc.'s shareholding will increase to 97.1 per cent based on the
final result; PPG to complete the tender offer for all the shares in Tikkurila
Oyj PPG INDUSTRIES, INC.
Press release content from Business Wire. The AP news staff was not involved in its creation.
PPG Completes Purchases From Certain Major Tikkurila Shareholders
February 8, 2021 GMT
PITTSBURGH (BUSINESS WIRE) Feb 8, 2021
PPG (NYSE:PPG) today announced that on Feb. 5, 2021 it completed the purchase of shares in Tikkurila (NASDAQ OMX:TIK1V) held by Varma Mutual Pension Insurance Company, Mandatum Life Insurance Company Limited and Kaleva Mutual Insurance Company. These shares represent, in the aggregate, approximately 9.32% of the shares in Tikkurila. PPG completed the purchases at the tender offer price of €34 per share for a combined purchase price of approximately €140 million.
Press release content from Business Wire. The AP news staff was not involved in its creation.
PPG and Tikkurila Agree on Improved Recommended Offer
February 4, 2021 GMT
PITTSBURGH (BUSINESS WIRE) Feb 4, 2021
PPG (NYSE:PPG) and Tikkurila (NASDAQ OMX:TIK1V) today announced the companies have entered into an amendment to the previously announced definitive combination agreement, pursuant to which PPG will improve its recommended offer to acquire all issued and outstanding stock of Tikkurila in an all-cash transaction. Under the improved offer, Tikkurila shareholders would receive €34.00 in cash for each share of Tikkurila stock they own, for a total transaction value of approximately €1.52 billion, including the assumption of debt and cash.
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