Sherwin-Williams is the largest provider of architectural paint in the United States. The firm has over 5,000 stores and sells premium paint at higher price points than most competitors.
While AkzoNobel is one of the most diversified paint and coatings producers, it has somewhat focused its portfolio in recent years, exemplified by the sale of its specialty chemical business.
A report by Bloomberg last week said the FTSE 100 giant was exploring options for both Guinness and its investment in LVMH's Moet Hennessy drinks unit.