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The Dutch financial markets regulator AFM has confirmed that it has received a submission from PPG to extend the filing deadline for the formal offer for AkzoNobel.

The initial deadline was set for June 1 but PPG has requested that this be extended up until June 14 at the earliest.

According to a report by Reuters, AFM spokesman Michiel Gosens said the case was unique and would be heard by the country's highest court for managerial law, in The Hague.

As previously reported, should PPG not meet the deadline to file bidding papers, the company will be forced to halt further offers for six months.

The PPG/AkzoNobel saga looked to be drawing to a close following the Dutch paint-maker refusing to acknowledge PPG's most recent bid of 26.9bn euro (39.7bn AUD).

At one point PPG had hinted that it may walk away from the offer completely, after AkzoNobel shot down the bid, explaining that PPG had underestimated the company's value, showing a "lack of cultural understanding of the brand".

However, the American rival has continued to put the pressure on, appearing in front of the Amsterdam Court of Appeals this week in the hopes of having them force AkzoNobel to the negotiations table.

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