PPG's McGarry in Amsterdam to promote 'compelling' Akzo offer

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FILE PHOTO: AkzoNobel's logo is seen in Amsterdam, Netherlands, February 16, 2012. REUTERS/Robin van Lonkhuijsen/United Photos/File Photo (Copyright Reuters 2017)

Paint maker PPG has made a "very compelling" offer for Akzo Nobel and was shocked when its Dutch rival turned it down, PPG's chief executive Michael McGarry said on Thursday on a visit to Amsterdam to drum up support for a proposed tie-up.

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McGarry said he would meet Akzo shareholders during the visit and was prepared to meet Akzo's boards "any time, any place" to discuss its 22.7 billion euro ($24.47 billion) takeover offer. He disputed Akzo's view that the two companies' cultures were ill-matched.

Asked to comment on a possible hostile bid, McGarry said he wanted to "work together" with Akzo.

(Reporting By Toby Sterling, writing by Thomas Escritt. Editing by Jane Merriman)