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Akzo Nobel wins again in court battle with hedge fund Elliott
August 10, 2017 / 4:15 PM / 4 months ago

Akzo Nobel wins again in court battle with hedge fund Elliott

AMSTERDAM, Aug 10 (Reuters) - Akzo Nobel does not have to let shareholders vote on the position of its chairman, a Dutch court ruled on Thursday, handing the Dutch paint company another victory in its continuing battle with activist investor Elliott Advisors.

Elliott, Akzo’s largest shareholder with a 9.5 percent stake, holds Chairman Antony Burgmans resposnible for Akzo’s rejection of a 26 billion-euro ($30.5 billion) takeover proposal from U.S. rival PPG Industries earlier this year and has for months been trying to get him dismissed. (Reporting by Bart Meijer; Editing by Greg Mahlich)

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