Akzo Nobel's Largest Shareholder Calls for Talks With PPG
24 March 2017 - 1:50AM
Dow Jones News
By Ben Dummett
Akzo Nobel N.V.'s (AKZA.AE) largest shareholder on Thursday
urged the Dutch paint and chemicals maker to start negotiations
with U.S. rival PPG Industries Inc. (PPG) over its $24 billion
takeover offer.
Causeway Capital Management LLC., a Los Angeles-based money
manager, said in a letter addressed March 22 to Akzo's board that
it opposes PPG's current offer of 90 euros ($97) a share as
"inadequate," but also believes it's high enough for Akzo's
management to start negotiations.
Write to Ben Dummett at ben.dummett@wsj.com
(END) Dow Jones Newswires
March 23, 2017 10:35 ET (14:35 GMT)
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