May 20, 2017 / 9:51 AM / 7 months ago

Dutch considering law to protect companies from foreign takeover

AMSTERDAM, May 20 (Reuters) - The Netherlands government on Saturday said it is considering a law that would give Dutch publicly listed companies a one-year period of “thinking time” during which they could freely reject any approach by a foreign buyer.

The announcement by Economic Affairs Minister Henk Kamp comes amid a surge in nationalist and protectionist sentiment in the Netherlands.

It also comes as U.S. paint-maker PPG Industries seeks to buy Dutch based rival Akzo Nobel with a 26.3 billion euro ($29.47 billion) offer that is widely backed by the company’s foreign shareholder base but opposed by the company’s Dutch-controlled board.

Kamp has said a takeover of Akzo Nobel is not in the Dutch national interest. ($1 = 0.8925 euros) (Reporting by Toby Sterling Editing by Jeremy Gaunt)

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