LONDON/AMSTERDAM (Reuters) - In early March, U.S. paint maker PPG 's Chief Executive Michael McGarry flew from Pittsburgh to Amsterdam to take Akzo Nobel boss Ton Buechner for lunch.
There, the 59-year-old American ambushed Buechner with a takeover plan and price tag that his company had been working on for months, a source familiar with the talks told Reuters...
He was brutal in his approach and Akzo decided to respond in the same aggressive way.
The fact that it went public made the process difficult from the beginning.
I don't think the political commentary changes the fact that there was a compelling strategic logic for the two companies to come together.
What was missing from the very start was dialogue.
He's the one who said he was willing to meet any time, anywhere.
Although you declined to have my requested five-minute call, you indicated you would be open to receiving our views in writing. As a result, I am providing you with this letter.
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