Elliott leads investors against Akzo Nobel supervisory chair
13 April, 2017, 02:19 | Author: Elaine Woods
Akzo Nobel NV (AKZOY) has accused one of its biggest shareholders of planning to share price-sensitive information with rival PPG Industries (PPG) and rejected calls for the dismissal of its chairman amid an increasingly hostile takeover showdown.
Elliott previously disclosed that it owns a 3% stake in Akzo and has pressed the company to engage in deal talks with USA rival PPG Industries Inc. The Financial Times reports that while Akzo has said it will consider the proposal for an EGM, the company has asserted it is "strongly" behind its chairman. If Akzo stuck to its "inexplicable" refusal, "Elliott intends to use its recourse to the Dutch Courts", the fund manager added.
The offer by PPG that was rejected by Akzo on March 22 was worth over €24 billion. Burgmans is viewed as an opponent to the deal but Elliott has pressed the company to engage with PPG.
It is not clear the rules, if any, that PPG and shareholders may have violated.
A number of Akzo investors want the Dutch company to negotiate with PPG on a possible takeover.
Uganda charges, jails academic for insulting the president
Nyanzi are yet another clear indicator that those who express critical views of the government can face its wrath", Burnett said. Instead, government lawyers applied to have Nyanzi undergo a court-ordered mental evaluation before she could even take pleas.
Scenes from the 2017 Lucky Egg Hunt
Each child will be allowed to find three eggs and can then redeem them at the registration table for various prizes. Join Hodges Community Center as they host their 11th Annual Easter Egg Hunt on Saturday, April 8, 2017.
"AkzoNobel became aware on April 11 that Elliott Advisors meant to privately share potentially price sensitive information with PPG about its decision to request an EGM", the company said.
In a communication seen by Reuters, Gordon Singer of hedge fund Elliot Advisors accidentally included a representative of AkzoNobel (AKZO.AS) in an otherwise internal distribution list on Tuesday.
"It would be preferable from PPG's perspective if AkzoNobel would speak with us rather than about us", PPG said.
The activist investor, which holds a stake of 3.25% in Akzo, has said it would be responding to the allegations made by Akzo soon. The company is expected to provide fresh financial projections and more information about its strategy, including the separation of the specialty-chemicals business, when it delivers first-quarter results on April 19.
PPG Chief Executive Michael McGarry said last week that the company isn't ruling out a sweetened offer or a hostile bid for Akzo.
A USA missile attack on a Syrian airbase Thursday night escalated tensions between the US and Russian Federation . Iran has provided crucial military and economic assistance to Assad throughout Syria's six-year civil war .
I didn't see you raising your voice against President Obama's inaction in Syria that...made us refugees get kicked out of Syria. McMaster said Thursday when asked about the refugee policy. "Cruise missiles alone are not a solution", said Rep.
Office workers in the capital of Manila , about 68 miles away, were seen rushing out of buildings after feeling the tremors. Photo taken by Ryan Panganiban Valle, shows the damaged wall of a building at the Camp Netanya Resort in Mabini, Batangas .
Clothing and footwear price tags were also on the rise, climbing by 2% over the period in contrast to a 1% jump previous year . The growth rate, nearly on par with market expectations, quickened from an increase of 0.8 percent in February.
Trump said the chemical weapons attack in Syria was "an affront to humanity", and it "crossed a lot of lines" for him. The press conference came after Nunes reviewed classified documents that he says he got from a secret source.
Contrary to reports claiming Google has disabled the functionality, we were just able to summon the Assistant by playing the ad. You don't want to create a situation where consumers are developing resentment".
Downing Street says it is discussing measures to exert "greater pressure" on the Syrian regime and those who support it. But political experts say with the show of force is risky, with Russian Federation backing Assad.
Patriach Kirill, head of the Russian Orthodox Church, led a service at Moscow's main cathedral on Tuesday for the bombing victims. No one has claimed responsibility for the bombing, but Russian trains and planes have often been targeted by Islamist militants.
Last year, Clinton and the US Democratic Party were hit by a series of leaks and disclosures. "As a person, I'm ok. Oh, I don't know, maybe you were dropped by immaculate conception?" I think there's something to be said for that.
But it cautioned that genetic risk is just one piece of information and does not mean they will or won't eventually get a disease. In addition, this may nudge them to make key changes in their lifestyle choices to minimize the incidence of these diseases.
Jessica Runions, 21, was last seen in September 2016 and her SUV was found burned along Blue River Road in south Kansas City. She also alleged Yust told her that he had killed her three cats and would kill her family if she reported him to the cops.
Taiwan bans eating dog and cat meat
Each year, the festival attracts the wrath of animal rights activists who call the practice of slaughtering dogs inhumane. Amendments to the current legislation could lead to the outlawing of dog and cat consumption by the end of April.
Impeachment hearings set to begin for Alabama governor
Bentley's candor in investigative efforts", said Jack Sharman, Special Counsel for the House Judiciary Committee. The commission has referred the case to a prosecutor to decide whether Bentley should face criminal charges.
Police track leads in search for Wisconsin gun theft suspect
The newly-released photos of Jakubowski were taken on the evening of Tuesday, April 4th at the Armageddon Gun Shop in Janesville. Police on Sunday also released a social media video that they said depicts Jakubowski's sending a package to Trump.
Jay Z Pulls Catalog From Spotify
Spotify didn't say if Jay Z's decision was based on friction between Tidal and other streaming music services. Last year, his 2001 album " The Blueprint " was also removed from all streaming services other than Tidal.