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Tag Archives: Sika AG
Sika AG Reports Record Sales
Sika AG on January 10 reported a 5.6 percent increase in sales, equivalent to 5.75 billion Swiss francs ($5.67 billion USD). Continue reading
Swiss Court Rules Against Saint-Gobain
A Swiss court sided with Swiss specialty chemical company SIKA AG’s management Friday in a dispute with its founders, who want to sell their shares to French rival Saint-Gobain SA. Continue reading
Saint-Gobain Remains Determined to Acquire Controlling Interest in SIKA
In 2015, the antitrust authorities gave their “unconditional approval” for French conglomerate Saint-Gobain to gain a controlling interest in Swiss specialty chemicals company SIKA AG, Saint-Gobain management wrote in their 2015 financial report. Continue reading
Posted in glassBYTEs Original Story Tagged AGRR, glassBYTEs.com, Saint-Gobain, Schenker-Winkler Holding, Sika AG, SWH Leave a comment
SIKA Says It’s Steadfast Against Saint-Gobain Takeover
Swiss specialty chemical company SIKA AG management continues its opposition to a takeover bid by French conglomerate Saint-Gobain. There is a “necessity of safeguarding Sika’s successful business model in the interest of all stakeholders,” the company’s management said when reporting fourth-quarter sales. Continue reading
Posted in glassBYTEs Original Story Tagged AGRR, Burkard family, glassBYTEs.com, Saint-Gobain, Schenker-Winkler Holding, Sika AG, Steadfast 1 Comment
SIKA AG Chairman: Saint-Gobain Takeover Would Destroy Company’s Value
In a letter to Saint-Gobain shareholders, Swiss specialty company SIKA AG chairman Paul Hälg denounced the “value of the [Saint-Gobain] takeover attempt,” writing it could take years for the issues to be worked out in the court system. In response, Saint-Gobain management released a statement saying that “all antitrust authorities have given pre-closing clearance” and the company is “determined to pursue this value-creating transaction for both groups.” Continue reading
Posted in glassBYTEs Original Story Tagged AGRR, Burkard family, glassBYTEs.com, Paul Hälg, Saint-Gobain, Schenker-Winkler Holding, Sika AG, SWH 1 Comment
SIKA Shows Growth in All Regions, Saint-Gobain Uncertainty Remains
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. Continue reading
Posted in glassBYTEs Original Story Tagged 2015, AGRR, glassBYTEs.com, Saint-Gobain, Sika AG Leave a comment
Saint-Gobain Awaits Swiss Supreme Court Decision to Pursue SIKA Deal
French conglomerate Saint-Gobain plans to pursue its acquisition of a controlling interest of Swiss specialty chemical company SIKA AG pending a decision by the Swiss Zug Supreme Court. The court decision is expected in first half of 2016, according to the company’s latest 2015 third-quarter financial report. The company is waiting to see if the court will lift the restriction in voting rights the SIKA board has applied to Schenker-Winkler Holding (SWH), which is owned by the Burkard family. Continue reading
Dispute Between Saint-Gobain and SIKA Continues
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 … Continue reading
The Swiss Competition Commission Green Lights Saint-Gobain’s Acquisition
The Swiss Competition Commission has “unconditionally authorized Saint-Gobain’s acquisition of control over SIKA” according to French conglomerate Saint-Gobain. Continue reading
Swiss Administrative Court: Saint-Gobain Is Not Obligated to Extend Offer to All Shareholders
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) was revealed late last year. Continue reading
SIKA Board Holds Extraordinary Shareholders Meeting
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 in April, compensation for the members of the board was rejected for the “current term of office.” SWH retained its majority voting rights on this topic. Continue reading
Posted in glassBYTEs Original Story Tagged Burkard, Jan Jenisch, Saint-Gobain, Schenker-Winkler Holding, Sika AG, SWH 2 Comments
SIKA Investors File Lawsuit Against Burkard Family Member
Cascade Investment LLC and the Bill & Melinda Gates Foundation Trust have filed a director’s liability lawsuit against Urs F. Burkard, board member of SIKA AG, alleging breach of director’s duties. The Swiss specialty chemical company, its current management and some investors, such as Cascade and the Bill & Melinda Gates Foundation, are attempting to stave off a bid by French conglomerate Saint-Gobain to gain a controlling interest in SIKA by acquiring Schenker-Winkler Holding (SWH). Continue reading
SIKA’s Board Says No to Proposed Agenda Changes at Extraordinary Meeting
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. Continue reading
Swiss Superior Court Denies SWH Appeal to Overturn Voting Restriction
The Swiss Superior Court of Zug (Obergericht Zug) has denied Schenker-Winkler Holding AG’s (SWH) appeal over its restriction of voting rights in specialty Swiss chemical company SIKA AG. SIKA, its current management and some investors are attempting to stave off a bid by French conglomerate Saint-Gobain to gain a controlling interest in SIKA by acquiring SWH. Continue reading
Swiss Financial Authority Confirms Validity of Sika’s Opt-Out Clause
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 French conglomerate Saint-Gobain to gain the majority of voting rights in the Swiss company without tendering an offer for all shares by purchasing Schenker-Winkler Holding. Continue reading
Swiss Takeover Board Upholds Sika’s Opt-Out Clause
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 rights. SWH plans to sell its stake in Sika to Saint-Gobain. The Sika board and management have voiced their opposition to the deal. Continue reading
Swiss Court Denies Burkard Family’s Request to Uphold Its Voting Rights in Sika AG
The Swiss Cantonal Court of Zug has denied Schenker-Winkler Holding’s (SWH) request to uphold the company’s voting rights in Sika AG. SWH is owned by the Burkard family, which controls 16.1 percent of Sika’s capital with 52.4 percent in voting rights. SWH plans to sell its stake in Sika to French-conglomerate Saint-Gobain. The Sika board and management seeks to restrict the Burkard family’s voting rights to 5 percent given its desire to sell its Sika shares to Saint-Gobain. Continue reading
Posted in glassBYTEs Original Story Tagged AGRR, Cantonal Court of Zug, glassBYTEs.com, Saint-Gobain, Schenker-Winkler Holding, Sika AG, SWH 1 Comment
Burkard Family’s Bid to Sell Sika Will Be Addressed at Regular Shareholders Meeting
The Swiss Cantonal Court of Zug has denied Schenker-Winkler Holding’s (SWH) request to hold an extraordinary shareholders meeting for Swiss specialty chemical company Sika AG. The Burkard family-owned company, SWH, controls 16.1 percent of Sika’s capital with 52.4 percent in voting rights. SWH plans to sell its stake in Sika to French-conglomerate Saint-Gobain. Via the special meeting, SWH sought to oust certain Sika board members who voiced opposition to the deal. Now that topic will be addressed during the regular annual shareholders meeting in April. Continue reading
Posted in glassBYTEs Headlines Tagged AGRR, Burkard family, glassBYTEs.com, Saint-Gobain, Schenker-Winkler Holding, Sika AG, Zug 1 Comment
Swiss Takeover Board Decides in Favor of Burkard Family
The Swiss Takeover Board has decided the Burkard family, which owns Schenker Winkler Holding AG, can move forward with selling its interest in Swiss chemical company Sika AG to French conglomerate Saint-Gobain. Continue reading
Saint-Gobain Says Commitment to Acquire Sika “Irrevocable”
In a Power Point presentation covering 2014 full-year financials, French conglomerate Saint-Gobain’s management says its “commitment is irrevocable” to acquire a controlling interest in Swiss specialty chemical company Sika AG. “Consequently, we hope that those members of Sika’s management team who currently oppose the transaction will rethink their position and the radical steps they have taken which are detrimental to the group’s 17,000 employees,” management writes in the report. Continue reading
Sika Reports Record 2014 Sales
Though an uncertainty remains around the bid by French conglomerate Saint-Gobain to take over a majority interest in Sika AG, the Swiss specialty chemical company reports it has achieved “the best result in the company’s history” for full-year 2014, according to its financial report. Continue reading
Posted in glassBYTEs Original Story Tagged AGRR, glassBYTEs.com, Jan Jenisch, Sika AG Leave a comment
More than 100 Sika Managers Sign Letter Opposing Saint-Gobain Deal
More than 100 senior managers at Swiss specialty chemical company Sika AG have signed a letter stating their opposition to the French conglomerate Saint-Gobain’s bid to acquire controlling interest in the company, according to a report. The letter was sent … Continue reading
Posted in glassBYTEs Original Story Tagged AGRR, glassBYTEs.com, Saint-Gobain, Sika AG Leave a comment
Sika AG Throws Up New Roadblock for Saint-Gobain
French conglomerate Saint-Gobain’s deal to acquire a controlling interest in Swiss specialty chemical company Sika AG appears to have had the brakes thrown on it. The Sika Board of Directors has decided the Burkard’s family voting rights in the company should be reduced to 5 percent. The Saint-Gobain deal hinged the Burkard’s family’s agreement to sell Schenker Winkler Holding AG to Saint-Gobain. The family-owned company controls 16.1 percent of Sika’s capital and 52.4 percent of its voting rights, which would have paved the way for Saint-Gobain to gain controlling interest of Sika. Continue reading
Posted in glassBYTEs Original Story Tagged AGRR, Burkard, glassBYTEs.com, Saint-Gobain, Schenker-Winkler Holding, Sika AG 1 Comment
Sika Reports 13.0 Percent Sales Growth for 2014
As Sika AG continues to push back against French conglomerate Saint-Gobain’s move to seek controlling interest in the company, the Swiss specialty chemical company also has released its 2014 financial results. The company reports 13.0 percent sales growth to 6.38 … Continue reading
The Pushback Over Saint-Gobain’s Move to Acquire a Controlling Interest in Sika AG Accelerates
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 asked Sika officials to meet in Zurich today in an attempt to clear the way for the deal to go forward. Continue reading
Sika AG to Meet with Investors Over Saint-Gobain Deal
Swiss specialty chemical company Sika AG has announced it will hold an investor meeting to discuss Saint-Gobain’s (SGO) move to seek a controlling interest in the company. Continue reading
Schenker Winkler Holding Looks to Remove Three Sika Board Members
Schenker Winkler Holding AG, which is owned by the family that controls Sika AG, has requested the Swiss specialty chemical company hold an extraordinary general meeting and proposes to remove Dr. Paul Hälg, Monika Ribar and Daniel Sauter as current members of the board. Schenker Winkler, which holds the majority voting rights in Sika, is slated to be sold to Saint-Gobain—giving the French conglomerate a controlling interest in the Swiss specialty chemical company. Sika’s board and management have voiced their opposition to the deal. Continue reading
Posted in glassBYTEs Original Story Tagged AGRR, glassBYTEs.com, Saint-Gobain, Schenker Winkler Holding AG, Sika AG Leave a comment
Saint-Gobain Seeks Controlling Interest in Sika
Saint-Gobain plans to acquire a controlling interest in chemical company Sika AG, which specializes in the development and production of systems and products for bonding, sealing, damping, reinforcing and protecting in the building sector and automotive industry. The Sika board and management team say they are not in favor of the move and will “resign following closing of the transaction,” according to a company statement. Continue reading