Dulux owner rejects £6.5bn bid for decorative paints business

Dulux owner AkzoNobel has rebuffed a €7.5bn (£6.5bn) approach from Nippon Paint for its decorative paints division, arguing the offer significantly undervalues the business.
The company confirmed it had received several conditional and non-binding proposals from the Japanese paintmaker for the division, which includes consumer brands such as Dulux.
However, AkzoNobel said its merger agreement with US coatings group Axalta prevented it from entering discussions with Nippon Paint and st