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PPG Extends Tender Offer Period for Tikkurila

The tender offer period, which commenced on Jan. 15, 2021, was scheduled to expire on March 30, 2021.

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By: Anthony Locicero

Copy Editor, New York Post, Rodman Media

PPG announced that it is extending the tender offer period for all issued and outstanding shares of Tikkurila Oyj to April 14, 2021. 
 
The tender offer period, which commenced on Jan. 15, 2021, was scheduled to expire on March 30, 2021.
 
As previously announced, the European Commission and the Ministry of Economic Affairs and Employment of Finland have approved the tender offer. The European Commission’s merger control approval applies without conditions across the European Union, including Poland. 
 
The offer remains subject to the receipt of other regulatory approvals outside of the European Union, which PPG anticipates receiving within this extended period, and to additional customary conditions to completion, including the valid tender of shares representing, together with shares otherwise held by PPG and its subsidiaries, more than 66.7% of the outstanding shares.
 
PPG will provide additional updates on or shortly after the extended tender offer period expires on April 14, 2021, and expects to close the acquisition shortly thereafter.

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