PPG said it made a final attempt at engaging with AkzoNobel's board last week, but did not receive a response.
However, the Dutch company had "consistently refused to engage" and therefore "we believe it is in the best interests of PPG and its shareholders to withdraw our proposal to AkzoNobel at this time". Under Dutch law, PPG had to make a decision today to pursue a formal takeover attempt or pause for a six month cooling off period.
Russians Might Get US Diplomatic Compounds Back — WaPost
The initial plan involved the lift of a freeze against the U.S.in 2014 that halted the construction of a new USA consulate in St. Obama said the measures were taken in response to Moscow's alleged interference in the U.S. presidential elections.
Akzo chief executive Ton Buchner said: "We continue to focus on our business, pursuing our strategy of accelerating sustainable growth and profitability and creating two focused, high-performing businesses - paints and coatings and speciality chemicals".
"By contrast, AkzoNobel has outlined a compelling strategy to accelerate growth and value creation which we believe will deliver significant long-term value for our shareholders and all other stakeholders".
The Amsterdam-based AkzoNobel has in recent months rejected three takeover offers from PPG, the last of which would have valued the company at around €24.6 billion (RM118.4 billion).
White Sox's Miguel Gonzalez ideal through 6
Danish, who made three relief appearances previous year in his first stint in the majors, allowed three hits and struck out six. Andrew Romine ended the ideal game with a sharp grounder to Tim Anderson , who couldn't cleanly backhand the one hopper.
In April, Akzo presented its case for remaining independent, offering shareholders 1.6 billion euros in extra dividends and detailing plans to sell or float its chemicals subsidiary, which represents a third of company sales and profits. PPG had considered taking its offer hostile.
At 1055 BST, Akzo shares were down 1.3% to €73.58.
PPG had proposed a takeover deal worth about 26.3 billion euros ($29.5 billion), or 95 euros per share.
Dominca fire burns above Lake View Terrace, Angeles National Forest
Riverside County Fire officials said those residents were allowed to return after firefighters contained 50 percent of the blaze. A spokesman for the LAFD, estimates over 100 firefighters to be on the scene with helicopters dropping water from above.