AMSTERDAM: AkzoNobel shareholders and a US hedge fund manager went to court Monday seeking to force the world’s leading paint manufacturer to allow a vote on ousting the Dutch company’s chairman amid a fierce takeover bid.
Activist investor Elliott Advisors, and at least seven other shareholder groups, accused the company’s management of “creating a crisis of confidence” among its shareholders after AkzoNobel rejected three takeover offers from US rival PPG.
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