AKZOF - Flight data shows PPG Industries may have renewed interest in Axalta Coating (update)

Update 2:40pm: Adds PPG declined to comment. PPG Industries (NYSE:PPG) may be showing renewed interest in acquiring car-paint maker Axalta Coating Systems (NYSE:AXTA) after a previous attempt in 2020 never came to fruition. Two recent flights last month by PPG (PPG) executives to Philadelphia, Axalta's (AXTA) corporate headquarters, may be an indication of PPG's interest in Axalta, according to data from a flight tracking analytics company sent to investors and viewed by Seeking Alpha. The flights indicated a potential overnight stay by the PPG executives. Axalta (AXTA) was reportedly close to being acquired by PPG and private equity firm Clayton Dubilier for about $7.5 billion in early 2020 before the pandemic started. Axalta in late March 2020 announced that it had concluded its  review of strategic alternatives due to market conditions caused by the pandemic after in-depth discussions with a number of interested parties. Bloomberg reported in July 2019 that Japan's Kansai Paint Co. (OTCPK:KSANF)

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Flight data shows PPG Industries may have renewed interest in Axalta Coating (update)