Akzo Nobel activist Elliott increases stake to become largest investor - report
10 JUN 2017
Akzo Nobel [AMS:AKZA] investor Elliott Advisors has increased its holding in the Netherlands-based paint and coatings group, making it the biggest single shareholder, The Daily Telegraph reported. The activist investor increased its previously held stake by more than 5%, the unattributed report said.
Elliott, an activist hedge-fund management firm, unsuccessfully attempted to oust Akzo Chairman Antony Burgmans last month after the company cold shouldered takeover offers from PPG Industries [NYSE:PPG], the report noted.