| 2017-04-21 07:54:03|
PPG, AKZOY 07:54 04/21 04/21/17
PPG would be worth over $130/share with Akzo deal, says JPMorgan
JPMorgan analyst Jeffrey Zekauskas believes PPG Industries (PPG) will bid higher for AkzoNobel (AKZOY) given the accretion potential of the deal. A bid above EUR 90 per share will likely prove attractive to the Akzo shareholder, Zekauskas tells investors in a research note. The analyst believes PPG would be worth in excess of $130 per share following a takeover of Akzo. He continues to view PPG as a good long-term investment and keeps an Overweight rating on the shares with a $110 price target.