The opposition of the shareholders of Sika AG to the hostile takeover bid by Saint-Gobain continues to mount. So far, investors who together hold over 40 percent of the share capital have expressly stated their support for the course adopted by the Board of Directors and Group Management. 22 pension funds from Swiss companies, cities and public institutions have joined the initiative launched by the Ethos Foundation to fight off Saint-Gobain. Other pension funds, prominent institutional investors and private investors explicitly support the actions taken by the Board of Directors.
This strong support from investors reinforces the Board of Directors and Group Management in their resolve to continue vigorously defending the interests of all Sika stakeholders. These interests are seriously jeopardized by the hostile takeover bid. This is because Saint-Gobain wants to assume full control of the company with only 16 percent of the share capital, thus creating huge conflicts of interest which endanger the superior business model and successful growth strategy of Sika.
| DATE | January 30, 2015 | CONTACT | Dominik Slappnig |
SIKA CORPORATE PROFILE
Sika is a specialty chemicals company with a leading position in the development and production of systems and products for bonding, sealing, damping, reinforcing and protecting in the building sector and the motor vehicle industry. Sika has subsidiaries in 90 countries around the world and manufactures in over 160 factories. Its approximately 17,000 employees generated annual sales of CHF 5.6 billion in 2014.
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Source: Sika AG via GlobeNewswire
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