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News comes less than 19 months after talks with Japanese rival Nippon Paint fell apart
Japanese group swoops in with offer but shareholders at rival suitor will be relieved
US company and Dutch rival scrap discussions after Japanese group’s all-cash offer
Deal will create obstacle to any renewed takeover attempt from PPG Industries
Keeping the US company’s managers on board will make the deal more polished
Amsterdam-based paintmaker adds to wave of chemicals sector M&A activity