ZURICH Oct 28 Sika's management won the
latest round in its bitter takeover battle with Saint-Gobain
on Friday with a Swiss court ruling that the founding
family's full voting rights could be restricted.
France's Saint-Gobain has offered 2.75 billion Swiss francs
to buy the 16 percent stake held by the Burkard family, which
would give it control of Sika because it comes with nearly 53
percent of the voting rights.
Sika, which makes chemicals for the construction and
automotive industries, has opposed the sale, saying it would
wreck the company.
The Swiss company's board responded to the offer by reducing
the family's voting power to 5 percent, blocking the takeover, a
move contested by the Burkards.
But a court in Zug on Friday, said the restriction was
admissible, Sika said.
(Reporting by Brenna Hughes Neghaiwi; Editing by Greg Mahlich)