Why Axalta Coating Systems Ltd's Shares Popped 19% Midday Today
Shares of Axalta Coating Systems Ltd (NYSE: AXTA) jumped as much as 18.6% in trading midday Friday after reports of a potential merger were reported by Reuters. At 3:15 p.m. EDT, shares had settled down slightly, but were still up 16.6% on the day.
Reuters is reporting that Dutch company Akzo Nobel NV has approached Axalta about a possible merger to create a coatings giant. Akzo itself fought off a buyout attempt from PPG earlier this year and may see the need to expand through its own merger to stay competitive in the market.
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Source: Fool.com
Axalta Coating Systems Ltd. Stock
€30.40
-1.940%
Axalta Coating Systems Ltd. is currently one of the favorites of our community with 18 Buy predictions and no Sell predictions.
As a result the target price of 37 € shows a positive potential of 21.71% compared to the current price of 30.4 € for Axalta Coating Systems Ltd..
