- Buyout firm Clayton, Dubilier & Rice LLC is in talks to partner with U.S. paint maker PPG Industries Inc to make an acquisition offer for Axalta Coating Systems Inc, the U.S. coatings company whose largest shareholder is Warren Buffett’s Berkshire Hathaway Inc, people familiar with the matter said on Monday.
CD&R and PPG are discussing forming a consortium to bid for Axalta with other investors that include Singaporean sovereign wealth fund GIC and U.S. asset manager BlackRock Inc, one of the sources said. Axalta, PPG, CD&R and Platinum Equity declined to comment. GIC, BlackRock and Koch Industries did not immediately respond to requests for comment.
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