Akzo Nobel receives request from Elliott for shareholder meeting
Dutch paint maker Akzo Nobel said on Wednesday that it had received a request from a group of shareholders led by Elliott Advisors to hold a special shareholder meeting to dismiss Chairman Antony Burgmans.
Elliott hopes to add to pressure on Akzo to negotiate a potential sale to U.S. coatings manufacturer PPG Industries Inc (PPG.N), after Akzo rejected a sweetened 22.4 billion euro ($24 billion) cash-and-stock offer from PPG last month.
"The Supervisory Board strongly supports Mr. Burgmans in his role as Chairman," Akzo Nobel said in a statement.
Source:- http://www.reuters.com/article/us-akzonobel-m-a-idUSKBN17E0E4?il=0
