Paint giant PPG Industries Inc. dropped its $27.6 billion takeover pursuit of Akzo Nobel NV Thursday, ending an unusually bitter trans-Atlantic standoff between two of the world’s oldest industrial companies. Akzo Nobel’s board has “consistently refused to engage and did not respond to our (latest) call or letter,” PPG Chief Executive Michael McGarry said in a statement. “As a result, we believe it is in the best interests of PPG and...

Source: Wall Street Journal June 01, 2017 09:45 UTC