Elliott Seeks Akzo Chairman Ouster

5/9/17

Elliott Advisors has launched legal action against Dutch paint maker Akzo Nobel (OTCQX:AKZOY), looking to oust Chairman Antony Burgmans, after the firm rejected a third €26B takeover proposal from U.S. rival PPG.

Under Dutch law, shareholders representing a 10% stake have the right to ask the company to call an extraordinary meeting.

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