Elliott launches fresh bid to oust AkzoNobel chairman
July 10, 2017
Specialty Chemicals | Amsterdam, Netherlands
Elliott Advisors has launched a new attempt to force an EGM at AkzoNobel, in order to vote on the dismissal of company chairman Antony Burgmans. The hedge fund has sent a petition to the Interim Relief Court in order to compel the business to hold the meeting, a month after a previous attempt through the Enterprise Chamber was preliminarily rebuffed—although a next hearing is due on 20 September. Elliott owns 9.5% in the coatings and chemicals company, and has been criticising its refusal to engage with a takeover approach made by PPG Industries earlier this year.