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 course) want the takeover to take place, and are pushing for at least a decent meeting. But again, Akzo board have been saying no. Even the courts are now involved and saying the board can stay on and do as they please. Akzo has this hostile takeover vehicle in place since 1926, whereby a foundation/trust has preferred shares that can basically block a takeover... because the foundation can turn back proposals made by shareholders for new board members. So it could be that PPG has all the shares, but cannot appoint board members... It might be though, that the courts will find that the foundation blocking a majority is illiegal, since as from 1928... this construction is not allowed anymore... So this has been going on for 2 months... and I think PPG has to make an official bid (if they still want) no later than the 1st of June... as per Dutch Law. So it's quite interesting... is PPG going to put in a hostile bid, probably exceeding the current unofficial bid of EUR 96.... or are they pulling out, sending Akzo down 10-15%...