Nippon Paint made multiple offers over the past month for AkzoNobel's decorative paints business, including a €7.5 billion follow-up bid last week, according to CNA and The Japan Times. AkzoNobel management did not engage with the offers or disclose them to shareholders while advancing a merger with Axalta Coating Systems. Earlier joint bids with Sherwin-Williams for the full company were rejected in May and withdrawn.