Paint giant sweetens its offer the British company with a £8 billion indicative bid
Akzo Nobel has raised its per share offer to 670p in cash.
The Dutch paint company teamed up with Henkel – the latter will acquire one of ICI's adhesives and electronics units for £2.7 billion – in the long-running battle to strengthen its position in the gloabl coatings industry.
Estimates put Akzo's market share at 15% should it purchase ICI and raise its presence in the US and emerging markets around the world.
Access to ICI's books is being seen as a significant move towards placating shareholders concerned that Akzo is overpaying.
Directors now hope to show the dissenting voices that the two businesses have considerable advantages working together.