CAPE TOWN – In a shocking turn of events, the Competition Tribunal has slammed the brakes on what could have been the most colourful merger in paint history. The Dutch owners of Dulux, Amsterdam-based AkzoNobel, had their dreams of a rainbow alliance with Kansai Plascon Africa shattered.
Despite Amsterdam’s best attempts, which included selling Micatex and making promises shinier than a freshly painted wall, the tribunal remained unmoved. It seems the committee wasn’t ready for the kind of vibrant partnership that would make even a chameleon jealous.
The tribunal, maintaining a poker face that would put a paint swatch to shame, has yet to spill the proverbial paint on why they nixed the deal. The proposed merger between AkzoNobel and Kansai Plascon’s African and East African businesses has become the mural that never was.
As paint enthusiasts around the world ponder the missed opportunity for a palette revolution, the tribunal is expected to release detailed reasons behind their decision. Until then, Dulux and Plascon will have to find their own canvas to create the masterpiece that could have been. In the world of mergers, it seems not every hue gets its day in the sun.
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Tags: AkzoNobel Dulux Micatex Plascon