Akzo Nobel Ends Feud With Elliott Management<br />On Wednesday, Akzo Nobel said that it had reached an agreement with Elliott to suspend all litigation<br />for three months, in the hope of “normalizing the relationship with its shareholders.”<br />Elliott also agreed to support the appointment of Thierry Vanlancker, Akzo Nobel’s chief executive, to the paint maker’s management board<br />and the nomination of two other directors to its supervisory board.<br />LONDON — Akzo Nobel, the Dutch paint and chemicals company, said on Wednesday<br />that it had reached a truce with Elliott Management, ending a dispute that had been the latest example of an activist investor looking to reshape a major business.<br />Akzo Nobel said it intended to nominate a third director to its supervisory board after consulting with its major shareholders, including Elliott<br />Elliott urged Akzo Nobel to engage in talks with PPG,<br />and the fund eventually went to court to try to force a shareholder meeting aimed at replacing Akzo Nobel’s chairman, Antony Burgmans.
