ICI 'rejects takeover bid'

Dulux paint maker ICI is understood to have turned down a takeover offer from Dutch rival Akzo Nobel valuing the group at around £7.2bn (€10.6bn), a report suggested today.

The chemicals and paint giant is said to have rebuffed an indicative 600p-a-share offer made by Akzo Nobel for being too low, according to The Sunday Telegraph.