Tokyo: Nippon Paint Holdings Co agreed to buy Australia’s DuluxGroup Ltd for A$3.8bil (US$2.7bil) in cash, giving it access to the country’s No. 1 sales channel for paints and coatings, as well as sealants, adhesives, garage doors, cabinets and architectural hardware.
The offer by Japan’s biggest paint maker to pay A$9.80 for each Dulux share represents a 28% premium, the companies said in a statement.
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