Posts Tagged ‘ Sika ’

SIKA Shows Growth in All Regions, Saint-Gobain Uncertainty Remains

Nov 16th, 2015

Fotolia_7360675_L-300x225

Swiss-based specialty chemical company SIKA AG reported a 5.5 percent sales increase at constant exchange rates for the first nine months of 2015. Though results were strong, the report indicated that one uncertainty remains—Saint-Gobain. “The unknown outcome of Saint‐Gobain’s hostile takeover attempt remains an element of uncertainty for the future,” according to the report. Growth […]

Dispute Between Saint-Gobain and SIKA Continues

Oct 20th, 2015

French conglomerate Saint-Gobain is continuing to pursue its plan to acquire controlling interest in Swiss specialty chemical company SIKA AG, according to the company’s latest letter to shareholders. Meanwhile, a letter was sent to Saint-Gobain management by SIKA’s managers “urging the company to reconsider its acquisition plans,” based on a local report. A Saint-Gobain spokesman reportedly […]

Swiss Administrative Court: Saint-Gobain Is Not Obligated to Extend Offer to All Shareholders

Sep 4th, 2015

gavel 2

The Swiss Federal Administrative Court (FAC) had upheld Swiss specialty chemical company SIKA AG’s opt-out clause, rejecting a complaint filed over the clause by the Bill and Melinda Gates Foundation Trust and Cascade Investment. The court drama began after French conglomerate Saint-Gobain’s plan to gain a controlling interest in SIKA by acquiring Schenker-Winkler Holding (SWH) […]

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 […]