Elliott steps up pressure on Akzo?

• Activist Elliott Management is threatening to use obscure Dutch corporate rules to force Akzo Nobel (OTCQX:AKZOY -2.1%) to consider a sweetened €22.4B bid from rival PPG Industries (PPG -1.3%).
• Elliott, which owns a 3% stake in Akzo, agreed that the new offer was too low, but the hedge fund stepped up pressure on Akzo to talk with PPG.
• The unusual move comes as some analysts say Akzo's bylaws protect it - not make it more vulnerable.