AMSTERDAM (Reuters) - Elliott Advisors has increased its stake in Dutch paint maker Akzo Nobel to at least 5 percent from 3.25 percent, according to a filing with the Dutch financial markets regulator AFM dated Wednesday.
A spokesman for the hedge fund declined to comment on the reason for the increase.
Under Dutch market rules, investors must report their holdings when they pass certain thresholds. Elliott could in theory own anywhere between 5 percent and 10 percent of Akzo’s outstanding share capital.
Reporting by Toby Sterling; editing by David Clarke