Sika AG (SIK.S)
Tue, May 15 2018
ZURICH, May 15 Sika said it is selling a 1.5 billion Swiss franc ($1.50 billion) convertible bond, with the proceeds going towards buying its own shares back from Saint-Gobain.
PARIS/ZURICH Swiss adhesives maker Sika has repelled a hostile takeover bid from Saint-Gobain in a $3.2 billion deal that gives the French company a minority stake but may make Sika a more attractive target for others.
* Saint-Gobain shares also climb (Adds further comments and detail)
* CHAIRMAN PAUL HAELG SAYS DEAL WITH SAINT-GOBAIN WILL HELP ACCELERATE SIKA GROWTH STRATEGY
BRIEF-Sika Investor Columbia Threadneedle Investments Says Deal Allows Sika’S Corporate Governance And Capital Structure To Be Brought Into Line With Best Practice
* INVESTOR THREADNEEDLE INVESTMENTS SAYS WELCOMES TODAY’S ANNOUNCEMENT ON SIKA AG, SAYS IT IS A "SENSIBLE AND FAIR SOLUTION AND WE FULLY SUPPORT IT"
PARIS, May 11 French building materials company Saint-Gobain and Swiss peer Sika said on Friday they had reached an agreement to end a long-standing legal dispute, which will result in Saint-Gobain acquiring a large stake in Sika.
BRIEF-Saint-Gobain And Sika AG Reach Agreement, French Company Plans To Take Large Stake In Swiss Adhesives Maker But Not Majority Control -- Sources
* AND SIKA AG REACH AGREEMENT, FRENCH COMPANY PLANS TO TAKE LARGE STAKE IN SWISS ADHESIVES MAKER BUT NOT MAJORITY CONTROL -- SOURCES Source text for Eikon: Further company coverage: (Reporting By Zurich newsroom)
ZURICH French building materials company Saint-Gobain is set to take a large stake in Switzerland's Sika AG while abandoning its quest for control, the Financial Times reported on Thursday, in a deal that would end a nearly four-year-old hostile takeover.
ZURICH, May 11 French building materials company Saint-Gobain is set to take a large stake in Switzerland's Sika AG while abandoning its quest for control, the Financial Times reported on Thursday, in a deal that would end a nearly four-year-old hostile takeover.
ZURICH, April 17 Sika chairman Paul Haelg has called on the Swiss chemical company's founding family to end a bitter takeover battle by abandoning its 2.75 billion Swiss franc ($2.9 billion) deal to sell its shares to France's Saint-Gobain.