1. Elliot Management Loses Dispute with Akzo Nobel

    Elliot Management Loses Dispute with Akzo Nobel

    U.S. activist investor Elliott Management Corp. lost a legal battle Monday to remove Akzo Nobel NV's chairman, increasing pressure on PPG Industries Inc. to make a hostile bid for the rival Dutch paint and chemicals giant or abandon its months long takeover pursuit. Earlier this month, Elliott took Akzo to court in the Netherlands to force Akzo to hold a special shareholder meeting on the dismissal of Antony Burgmans...

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    1. AkzoNobel is very pleased that the [court] has decided that its boards have acted in accordance with the highest standards of Dutch corporate governance and it confirms the position and actions of the Chairman.
    2. A constant lack of confidence from a substantial part of the shareholders is detrimental for Akzo Nobel and all its shareholders.
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