Dulux Paints Owner Akzo Nobel Nears Combination With Axalta (3)

Akzo Nobel NV is in advanced talks to combine with smaller rival paintmaker Axalta Coating Systems Ltd., people familiar with the matter said, in a cross-border deal that would reshape the global coatings industry.

The companies could announce a tie-up as soon as Tuesday, according to the people, who asked to not be identified because the discussions are private.

Akzo Nobel fell 2% to close at €56.64 in Amsterdam Monday, giving the maker of Dulux paints a market capitalization of around €9.7 billion ($11.2 billion).

Axalta, the former DuPont paint business, closed down 2.5% to $28.18 in New York, ...