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Akzo abandons profit forecasts

Sep. 08, 2017 6:26 AM ETAkzo Nobel N.V. (AKZOY) StockPPG, AKZOY, AKZOFBy: Yoel Minkoff, SA News Editor
  • Dutch chemicals group AkzoNobel (OTCQX:AKZOY) has issued a profit warning just weeks after settling a feud with Elliott Advisers over a decision to reject a takeover bid from PPG Industries (NYSE:PPG).
  • The shortfall raises questions about a defense strategy it used to thwart the €26B proposal.
  • Adding to the sense of disarray, Akzo said its chief financial officer was stepping aside for health reasons.

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