AkzoNobel (OTCMKTS:AKZOY)yesterday prevailed in a lawsuit brought by investor Elliott Advisors that sought to unseat AkzoNobel’s chairman over the paint manufacturer’s continued resistance to the takeover bid by PPG Industries (NYSE:PPG) that was launched earlier this year. The decision by Amsterdam Enterprise Chamber rejected Elliott’s request to force AkzoNobel to hold a special shareholder meeting on the dismissal of Antony Burgmans, chairman of the AkzoNobel board.
In a statement, PPG said, “PPG remains willing to meet with AkzoNobel regarding a potential combination of the two companies, but without productive engagement, PPG will assess and decide whether or not to
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