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...