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Business

Nippon Paint closing in on $9bn Axalta bid

US acquisition would lift Japanese paint maker to fourth place worldwide

Little of Nippon Paint's sales currently relate to automobiles, but a successful buyout of Axalta Coating Systems would change that.

OSAKA -- Nippon Paint Holdings has entered into final negotiations on a tender offer for American company Axalta Coating Systems, a deal that would elevate the Japanese paint maker to No. 4 globally by sales as peers around the world pursue major purchases to compete on scale.

Nippon Paint would likely spend on the scale of 1 trillion yen ($8.91 billion) to make seventh-place Axalta a wholly owned subsidiary. The deal would displace current fourth-ranked RPM International, also of the U.S.

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