ICI has signed off on a takeover by
Nobel after 80 years as a significant part of the British economy.
The FTSE 100 paint maker spent the weekend fine-tuning the details of an
£8.1bn takeover by its Dutch rival before a Takeover Panel deadline passed this
In July, ICI shot down a previous offer priced at 650p per share, and some
investors had been holding out for 700p a share, but the company settled on 670p
ICI’s CFO Alan Brown may be a high-profile casualty of the takeover, with
Akzo’s finance boss Rob Frohn in pole position to take overall control of the
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