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PPG request for Akzo Nobel extension under consideration -Dutch regulator
May 23, 2017 / 1:32 PM / 4 months ago

PPG request for Akzo Nobel extension under consideration -Dutch regulator

AMSTERDAM, May 23 (Reuters) - The Dutch financial markets regulator AFM confirmed on Tuesday that it has received a request from U.S. paint maker PPG Industries to extend a filing deadline by which the American company must submit a formal offer for Dutch rival Akzo Nobel.

Earlier on Tuesday PPG Chief Executive Michael McGarry said that his company had asked the regulator to extend the deadline to June 14 at the earliest, rather than June 1.

AFM spokesman Michiel Gosens said the case is “pretty unique” and will be heard by the country’s highest court for managerial law, in The Hague. (Reporting by Toby Sterling; Editing by David Goodman)

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