By Ben Dummett

 

Akzo Nobel N.V.'s (AKZA.AE) largest shareholder on Thursday urged the Dutch paint and chemicals maker to start negotiations with U.S. rival PPG Industries Inc. (PPG) over its $24 billion takeover offer.

Causeway Capital Management LLC., a Los Angeles-based money manager, said in a letter addressed March 22 to Akzo's board that it opposes PPG's current offer of 90 euros ($97) a share as "inadequate," but also believes it's high enough for Akzo's management to start negotiations.

 

Write to Ben Dummett at ben.dummett@wsj.com

 

(END) Dow Jones Newswires

March 23, 2017 10:35 ET (14:35 GMT)

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