This is quite an interesting issue.
PPG is trying to bid on Akzo Nobel… both are in the paint industry…. they have made an unofficial bid early March, upped it twice.. currently at about EUR 96. Akzo trades at 75 at the moment. Akzo = EUR 19bln, PPG = USD 27bln.
The story is as follows… the board of Akzo doesn’t want the takeover. So they have been holding of PPG, and they don’t even want to have a proper meeting discussing their bid. There are a few activist shareholders that (of…