Dutch chemicals group AkzoNobel is selling its struggling North American decorative paints arm to U.S. rival PPG Industries for $1.1 billion to focus on its larger European and faster-growing businesses.The sale is the latest move by the world's biggest paints maker to address problems it inherited through its 8.1-billion-pound ($13.1 billion) acquisition of Britain's Imperial Chemical Industries (ICI) in 2008.The North American business, which sells the Glidden paint brand in the United States, has long been a drag on AkzoNobel because it lacked the scale to compete with market leader Sherwin-Williams, and only recently became profitable.Shares in AkzoNobel, which in October announced a 2.5-billion-euro ($3.3 billion) writedown on its purchase of ICI due to a weak global economy, surged more than 5 percent on Friday, the biggest rise by a European blue-chip stock.
Market Leader, Inc., online technology and marketing solutions for real estate professionals across the United States and Canada. Shares of LEDR remained unchanged at $6.30. In the past year, the shares have traded as low as $2.30 and as high as $7.16. On average, 120923 shares of LEDR exchange hands on a given day and today's volume is recorded at 0.
PPG Industries, Inc. (PPG) is a global supplier of protective and decorative coatings. Shares of PPG remained unchanged at $125.21. In the past year, the shares have traded as low as $78.80 and as high as $128.42. On average, 890560 shares of PPG exchange hands on a given day and today's volume is recorded at 0.
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