AkzoNobel and activist shareholder Elliott Advisors have called a truce, ending their feud at least temporarily. Under a standstill agreement, they have promised to suspend all ongoing litigation for at least three months.

The two sides have been in dispute over AkzoNobel’s rejection of PPG’s €26 billion takeover bid earlier this year. PPG finally walked away in June and under Dutch law cannot return with a further bid for six-months.

Up to now, the hedge fund has taken the coatings group to court twice in an attempt to oust its supervisory board, chairman, Antony Burgmans, whom it blamed for blocking the deal. AkzoNobel won in both cases. Burgmans has since announced he will leave the board on Apr. 18, 2018.

Elliott has agreed to support the official appointment of Thierry Vanlancker as new CEO of AkzoNobel at the forthcoming extraordinary general meeting on Sept. 8. The investor will also support the company’s two new nominations to its supervisory board, namely Patrick Thomas, CEO of German polymers group Covestro, and Sue Clark, a former executive with UK brewing and beverage company, SABMiller.

AkzoNobel also intends to nominate a third member of its supervisory board, which it said will be done in consultation with shareholders, including Elliott.

Gordon Singer, head of Elliott Advisors, as the hedge fund’s London-based arm is called, commented: “We believe AkzoNobel will benefit from the addition of the supervisory board nominees. Today’s agreement marks an important next step in positioning AkzoNobel for success and enabling the company to deliver compelling value to all its stakeholders.”

Burgmans said he is pleased that recent constructive discussions with Elliott have improved understanding between both parties, adding that AkzoNobel remains focused on creating two world-class, high-performing businesses: Specialty Chemicals and Paints and Coatings.