Arnhem, the Netherlands-Akzo Nobel NV reports that it approached the board of Imperial Chemical Industries PLC (ICI) to enter discussions about a possible cash offer for ICI. However, Akzo says the approach was rejected. Akzo said ICI would represent a highly attractive addition to its focused coatings and chemicals business. Akzo Nobel said it will continue to evaluate all strategic opportunities, including ICI, though there can be no certainty that any further proposal will be made to ICI or that a transaction will result.
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