Akzo Nobel wins again in court battle with hedge fund Elliott
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.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.