Akzo Nobel N.V. made a comprehensive non-binding proposal to acquire Tikkurila. The proposed combination of AkzoNobel and Tikkurila would create a strong platform for future growth, better able to serve customers with more innovative and sustainable solutions, building on a shared European heritage. The proposal includes an all-cash public offer for all issued and outstanding shares of Tikkurila at an offer price of €31.25 per share ("potential offer") and a total equity value of around €1.4 billion. This represents a premium of 113% to Tikkurila's volume-weighted average share price for the undisturbed three-month period ending Dec. 17, 2020 and is 13% higher than the current offer made on Jan. 5, 2021. "The natural combination of AkzoNobel and Tikkurila would build on centuries of industry experience and shared European heritage to create significant value for customers, employees, shareholders and other stakeholders," AkzoNobel CEO Thierry Vanlancker said.