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Akzo Nobel wins again in court battle with hedge fund Elliott

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Akzo Nobel wins again in court battle with hedge fund Elliott

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By Bart Meijer AMSTERDAM (Reuters) – Akzo Nobel <AKZO.AS> does not have to let shareholders vote on the position of its chairman, a Dutch court ruled on Thursday, handing the Dutch paint company another victory in its continuing battle with activist investor Elliott Advisors. Elliott, Akzo’s largest shareholder with a 9.5 percent stake, holds Chairman Antony Burgmans responsible for Akzo’s rejection of a 26 billion-euro (23.55 billion pounds) takeover proposal from U.S. rival PPG Industries <PPG.N> earlier this year and has for months been trying to get him dismissed.

(Reporting by Bart Meijer; Editing by Greg Mahlich)
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