A team of PPG (PPG) - Get Report executives left the Netherlands today failing to capture a meeting with Akzo Nobel during a two-day visit to garner support for their proposed takeover, according to Reuters.
Akzo rejected PPG's $26.3 billion takevoer bid earlier this month, a rejection which has caused protests from shareholders who say PPG's bid deserves further discussion.
PPG's team met local media, officials from the Dutch Ministry of Economic Affairs, Akzo Nobel shareholders and the VEB, an organization that represents shareholders in the Netherlands.
However, the PPG team failed to meet any Akzo officials or labor unions.
"To be honest, we don't want a deal with the Americans," a representative of Akzo's main labor union FNV Erik de Vries said. "We have major concerns about their plans for job cuts."