Deals
PPG Considers Trian's Call to Separate Into Two Paintmakers
- Company weighs dividing architectural from industrial coatings
- Announcement comes as first-quarter forecast trails estimates
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PPG Industries Inc. said it will consider whether to split itself into two paintmakers as suggested by investor Trian Fund Management, which also has pressed to oust the chief executive officer.
A strategic review examining whether to separate the architectural-paints unit from industrial coatings will be finished by the end of June, the Pittsburgh-based company said in a statement Thursday. The shares climbed even as the company forecast first-quarter earnings that fell short of analysts’ estimates.