AkzoNobel and Axalta Coating Systems Ltd. announced in separate Aug. 5 news releases that shareholders voted to approve their previously announced all-stock merger of equals of Akzo Nobel N.V. (“AkzoNobel”) and Axalta Coating Systems at their individual General Meetings of Shareholders held Aug. 5.

“We appreciate the strong support we have received for our merger of equals with AkzoNobel and we are excited about the opportunity to deliver significant value to shareholders, customers and employees,” said Chris Villavarayan, Axalta CEO. “Building on our record second quarter, we are excited to embark on our next phase with real momentum in the business. Our teams are working diligently to advance integration planning and remain focused on bringing together two highly complementary businesses to capture the full value of this combination from day one.”

AkzoNobel CEO Greg Poux-Guillaume will serve as CEO of the combined company.

“Today’s vote represents a significant milestone towards bringing together two highly complementary businesses,” he said. “It gives us a clear mandate to realize our vision of a stronger, more innovative global coatings leader which will deliver outstanding long-term value for customers, employees and shareholders.”

Ben Noteboom, chair of AkzoNobel’s Supervisory Board, will serve as vice-chair of the combined company.

“We’re delighted that shareholders have backed our ambitious growth plans and share our vision for what the two companies can achieve together,” he said. "We can now move into the final phase of the merger process with confidence and begin to unlock the value of our full combined potential. We also thank our shareholders, employees, customers and other stakeholders for their continued support.”

Rakesh Sachdev, chair of the Axalta Board of Directors, noted that the approval marks a milestone toward creating a premier global coatings company.

“The resounding support reaffirms our conviction that combining Axalta and AkzoNobel will create a differentiated industry leader with broad capabilities, world-class innovation and an even stronger platform for growth and value creation. I look forward to working with our combined team to deliver on the promise of this combination.”

Completion of the merger remains subject to receipt of required regulatory approvals and other customary closing conditions. Subject to the satisfaction of these conditions, the companies continue to expect the merger to be completed in late 2026 to early 2027.

The final voting results, as certified by an independent inspector of election, will be filed as a Form 8-K filed with the U.S. Securities and Exchange Commission.