The Exchange has sought clarification from Akzo Nobel India Limited with respect to recent news item captioned Akzo Nobel India shares rally 6% as JSW Paints enters exclusive buyout talks. The response from the Company is attached.
JSWDULUX · price
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Akzo Nobel India responded to an NSE query about a news report claiming JSW Paints (JSW Dulux) had entered exclusive buyout talks for the company. The management stated they have not received any communication from their Dutch parent Akzo Nobel N.V. about any such negotiations. They referenced earlier disclosures from October 2024 about a portfolio review by the parent company but noted no new specific information has been shared. The company said it cannot confirm or deny the accuracy of the news item, and is unaware of any undisclosed information that could explain the recent share price movement.
This is a non-denial that leaves the buyout story unconfirmed. Shareholders should treat the JSW Paints buyout talk as speculative until the parent company Akzo Nobel N.V. or JSW Group makes a formal announcement. The stock has already rallied 6% on the news, so there is risk of a pullback if no deal materializes.