AMSTERDAM May 10 A Dutch court said on
Wednesday it will convene on May 22 to hear hedge fund Elliott
Advisors' request for an investigation into possible
mismanagement at Dutch paint-maker Akzo Nobel.
Elliott, which holds a 3.25 percent stake in Akzo, leads a
group of institutional shareholders dissatisfied with the
company's boards' rejection of a 26.3 billion euro ($29 billion)
takeover offer from U.S. rival PPG Industries.
As part of its suit, Elliott will ask the court for
preliminary measures including ordering an extraordinary meeting
of shareholders to debate the dismissal of Chairman Antony
Akzo earlier refused a request from Elliott to hold such a
meeting, saying it supports Burgmans. Akzo said Tuesday it was
disappointed in Elliott's move to file a lawsuit.
(Reporting by Toby Sterling; Editing by Elaine Hardcastle)