PHILADELPHIA, PA — Axalta Coating Systems Ltd. (NYSE: AXTA) shareholders approved the company’s proposed all-stock merger with Akzo Nobel N.V. on Monday, clearing a key corporate hurdle while leaving regulatory approvals as the main remaining condition before the coatings companies can combine.
AkzoNobel shareholders also approved the transaction at a separate extraordinary general meeting held the same day, according to Axalta.
The companies continue to expect the merger to close in late 2026 or early 2027, subject to required regulatory approvals and other customary closing conditions.
Axalta Chief Executive Officer Chris Villavarayan said the companies are moving ahead with integration planning while the approval process continues.
“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,” Villavarayan said.
The transaction is structured as a merger of equals and will be completed entirely in stock. The companies have not indicated in this release that regulatory clearance has yet been received.
Axalta Chair Rakesh Sachdev characterized the shareholder vote as a milestone toward creating a larger global coatings company, though completion remains contingent on external approvals.
Final Axalta voting results, certified by an independent inspector of election, were filed with the U.S. Securities and Exchange Commission on Form 8-K.
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