Chief Executive Thierry Vanlancker said raw material inflation was expected to continue in the remainder of 2018
Akzo first announced plans to sell the business, which accounts for a third of its sales and profit, in April, as it looked to evade a takeover from rival PPG Industries
PPG's third offer values Akzo at $28.8 billion including debt
PPG said its bid represented an increased price of 96.75 euros per AkzoNobel share
AkzoNobel has sufficient takeover defences to block a hostile takeover, an analyst said