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Tag Archives: Swiss Federal Administrative Court
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.
SIKA Saga Continues
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 French conglomerate Saint-Gobain to gain a controlling interest in SIKA by acquiring Schenker-Winkler Holding (SWH).