Nippon Paint Holdings and Sherwin-Williams announce they are ending their effort to acquire AkzoNobel. The companies decide to stop pursuing a joint bid after AkzoNobel previously rejects both joint all-cash offers they put forward. With the acquisition talks ended, AkzoNobel proceeds with its planned merger with Axalta Coating Systems. The announcements indicate there is no longer a continued attempt by the two bidders to gain control of AkzoNobel through a combined transaction. AkzoNobel’s next step remains the previously communicated plan to merge with Axalta, which is intended to move forward under the company’s existing timetable. The decision marks a reversal from the earlier push by the two paint-makers to combine their offers for AkzoNobel, and it closes that route to consolidation in the coatings sector.