Posts Tagged ‘ Saint-Gobain ’

Swiss Financial Authority: Sika’s Opt-Out Clause Has Merit

May 7th, 2015

*+-The Swiss Financial Markets Authority (FINMA) has denied an appeal by the Bill & Melinda Gates Foundation Trust as well as Cascade Investment, which are both shareholders in Swiss specialty chemical company Sika AG. The shareholders were attempting to appeal a decision by the Swiss Takeover Board to uphold Sika’s opt-out clause, which would allow […]

Sika’s Annual General Meeting Becomes Heated 7-Hour-Long Debate

Apr 16th, 2015

Sika chairman Paul Hälg speaks during the company’s annual general meeting. He called the event “historic.”

*+-Swiss specialty chemical company Sika AG’s seven-hour-long annual general meeting of shareholders on Tuesday is one for the record books. The Swiss company’s management and several board members are in a standoff with Burkard family-owned Schenker-Winkler Holding (SWH) over the potential sale of SWH to Saint-Gobain, which would give the French conglomerate majority voting rights […]

Saint-Gobain, Burkard Family Extend Time Period for Deal

Apr 9th, 2015

SIKA

*+-Saint-Gobain’s agreement with the Burkard family over the sale of Schenker-Winkler Holding (SWH) has been extended until June 30, 2016. The deal would position Saint-Gobain to gain majority voting rights in Swiss specialty chemical company Sika AG without having to make an offer for the remaining shares. SWH owns 16.1 percent of Sika’s capital with […]

Swiss Takeover Board Upholds Sika’s Opt-Out Clause

Apr 2nd, 2015

*+-The Swiss Takeover Board has upheld Sika AG’s “opt-out clause,” which allows French conglomerate Saint-Gobain to buy Schenker-Winkler Holding (SWH) and majority voting rights in Sika without having to make an offer for the remaining shares. SWH is owned by the Burkard family, which controls 16.1 percent of Sika’s capital with 52.4 percent in voting […]

Swiss Takeover Board Decides in Favor of Burkard Family

Mar 9th, 2015

SIKA

*+-The Swiss Takeover Board has ruled that the Burkard family, which owns Schenker Winkler Holding AG, can sell its interest in Swiss chemical company Sika AG to French conglomerate Saint-Gobain. “The Takeover Board has determined that the opting-out clause of Sika is valid,” according to the Swiss board’s decision. The decision means the Burkard family […]

More than 100 Sika Managers Sign Letter Opposing Saint-Gobain Deal

Feb 5th, 2015

*+-More than 100 senior managers at Swiss specialty chemical company Sika AG signed a letter stating their opposition to French conglomerate Saint-Gobain’s bid to acquire controlling interest in the company, according to a report. The letter was sent to Saint-Gobain’s CEO. “A considerable number of key managers have already signaled that they would consider leaving […]

Sika AG Pushes Back Against Saint-Gobain’s Takeover Move

Jan 16th, 2015

SIKA

*+-The management of Swiss specialty chemical company Sika AG continues to push back against French conglomerate Saint-Gobain’s move to seek controlling interest in the company. Several investors are supporting management’s position, including the Bill & Melinda Gates Foundation Trust, Cascade Investment LLC, Fidelity Worldwide Investment, Threadneedle Investments and the Ethos Foundation. Meanwhile, representatives of Saint-Gobain […]

Sika AG to Meet with Investors Over Saint-Gobain Deal

Dec 18th, 2014

*+-Swiss specialty chemical company Sika AG will hold an investor meeting to discuss Saint-Gobain’s (SGO) move to seek a controlling interest in the company. Schenker Winkler Holding AG, which is owned by the Burkard family and holds the majority voting rights in Sika, is slated to be sold to Saint-Gobain—giving the French conglomerate a controlling […]

Saint-Gobain Seeks Controlling Interest in Sika

Dec 9th, 2014

*+-But the Sika board and management team say they are opposed to the move and will “resign following closing of the transaction,” according to a company statement.

Saint-Gobain to Construct New North American Headquarters in Pennsylvania

Apr 17th, 2014

*+-Global building materials manufacturer Saint-Gobain signed a long-term lease on a 65-acre campus in Malvem, Pa., where it will build a new headquarters in preparation for expansion in North America. The new headquarters will serve both Saint-Gobain and its North American construction materials subsidiary, CertainTeed Corp. According to the announcement, Saint-Gobain will be largely dependent […]