AkzoNobel: agreement reached with Elliott.
(CercleFinance.com) - AkzoNobel has announced that it has reached an agreement with Elliott after recent constructive talks, which is aimed at normalising the relations between the Dutch chemistry group and its shareholders.
The agreement foresees an alignment with AkzoNobel's strategy to completely divide its specialty chemistry business. In addition, Elliott will support the appointment of Thierry Vanlancker as a member of the Board of Directors at the group's Extraordinary General Meeting of 8 September.
AkzoNobel and Elliott also agreed, subject to the terms of a moratorium agreement, to "seek to suspend all pending litigation for at least three months".
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The agreement foresees an alignment with AkzoNobel's strategy to completely divide its specialty chemistry business. In addition, Elliott will support the appointment of Thierry Vanlancker as a member of the Board of Directors at the group's Extraordinary General Meeting of 8 September.
AkzoNobel and Elliott also agreed, subject to the terms of a moratorium agreement, to "seek to suspend all pending litigation for at least three months".
Copyright (c) 2017 CercleFinance.com. All rights reserved.