Dutch court won't intervene in AkzoNobel, PPG disputeStaff Writer | May 29, 2017
An Amsterdam court has rejected a request by a group of AkzoNobel shareholders to order an extraordinary meeting of shareholders to discuss dismissing the paint and coatings company’s supervisory board chairman.
Acquisition Rebel shareholders
Rejecting the third PPG bid, worth $28.8 billion, AkzoNobel said that its own plan to spin off its Specialty Chemicals unit within 12 months to boost growth “offers a superior route to growth and long-term value creation and is in the best interests of shareholders and all other stakeholders.”
Some rebel shareholders held supervisory board chairman Antony Burgmans responsible for the rejections and want him replaced. ■