Posts Tagged ‘ Sika ’

SIKA Board Restricts Voting Rights of Schenker-Winkler Holding

Jul 30th, 2015

Swiss specialty chemical company SIKA AG’s board restricted the voting rights of Schenker-Winkler Holding (SWH) to 5 percent of all registered shares, thwarting the Burkard family-owned company’s attempt to remove the board chairman and several board members during the extraordinary shareholders meeting held Friday. In a repeat of what occurred at annual general shareholders meeting […]

EU Commission Approves Saint-Gobain’s Bid to Acquire SIKA

Jul 24th, 2015

SIKA

The European Commission has approved the proposed acquisition of Swiss specialty chemical company SIKA AG by French conglomerate Saint-Gobain.  “The Commission concluded that the proposed acquisition would not raise competition concerns because the combined market shares of the parties are moderate and a large number of competitors will remain active after the merger in all […]

SIKA’s Board Rejects Proposed Agenda Changes at Meeting

Jul 2nd, 2015

Swiss specialty chemical company SIKA AG’s board has denied Schenker-Winkler Holdings’ (SWH) request to revise the agenda for the July 24, 2015, extraordinary general meeting.  “In view of the resolutions of the annual general meeting of April 14, 2015, SWH’s requests to change its proposals cannot have an impact on the agenda,” according to a […]

SIKA Saga Continues

Jun 1st, 2015

The Bill & Melinda Gates Foundation Trust and Cascade Investment, investors in Swiss specialty chemical company SIKA, have appealed to the Swiss Federal Administrative Court after they found the decision of The Swiss Financial Markets Authority (FINMA) concerning SIKA unfavorable. SIKA, its current management and some investors are attempting to stave off a bid by […]

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 […]

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 […]