Axalta Shares Trade Higher Following Report Of Strategic Interest

Axalta Coating Systems Ltd AXTA shares are trading higher after reports of interest from Akzo Nobel, Kasai and PPG has been expressed.

According to a Reuters report in June, Axalta had formed a board committee to explore a sale of the company. The company's largest shareholder is Warren Buffett’s Berkshire Hathaway (NYSE: BRK-A)

“The move was driven by the company’s desire to proactively stay on top of a wave of consolidation sweeping the paints and coatings industry,” according to Reuters.

Axalta shares spiked as much as 5% Thursday and were up about 2.2% to $30.88 at time of publication. The stock has a 52-week high of $32.14 and a 52-week low of $21.58.

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