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Paints mega-merger called off

Dutch paints maker AkzoNobel and U.S. rival Axalta Coating Systems said on Tuesday that they have ended merger talks. The combined paints and coating company could have been worth $30 billion.

Backstory: The deal talks followed Pittsburgh-based PPG Industries trying to buy AkzoNobel earlier this year, but getting rebuffed. The theory was that if AkzoNobel could buy Axalta, then it would be too big for PPG to swallow.