AMSTERDAM, April 12 Elliott Advisors, the
AkzoNobel shareholder that backs rival PPG's
planned takeover of the Dutch paint maker, said it would take
legal action if Akzo did not give an upcoming shareholder
meeting the chance to vote to dismiss its chairman.
Along with Akzo's board, Chairman Antony Burgmans opposes
the sweetened 24 billion euro ($26 billion) takeover bid PPG
proposed last month. Akzo said earlier on Wednesday it would
reject a proposal to put a vote on Burgmans's dismissal on the
"Shareholders have a legal right under Dutch law to put a
proposal to dismiss Mr Burgmans onto the EGM agenda," Elliott
said in a statement on Wednesday. If Akzo stuck to its
"inexplicable" refusal, "Elliott intends to use its recourse to
the Dutch Courts," the fund manager added.
($1 = 0.9410 euros)
(Reporting By Thomas Escritt; Editing by Susan Fenton)