Takeover Board takes decision on opting-out

Yesterday evening the Swiss Takeover Board decided that the Opting-Out of Sika AG pursuant to article 5 of the articles of incorporation is valid as such.

The Takeover Board has explicitly not decided the question whether in view of the proposed transaction the use of the Opting-Out by Saint-Gobain is abusive as has been put forward by Sika.According to the Takeover Board this question will only have to be decided if indeed Saint-Gobain were to acquire more than 33 1/3% of the votes in Sika and then invoked the Opting-Out.

The Takeover Board has also decided that in case of elimination of the Opting-Out (so-called Opting-In) the requirement that a majority of the minority shareholders must consent does not apply. The Takeover Board dismissed all further requests submitted by Schenker-Winkler Holding AG and decided that Schenker-Winkler Holding AG has to bear the costs. The board of directors of Sika is asked to release its opinion by March 12, 2015. Sika will analyse the decision of the Takeover Board and then decide on the way forward.

600450 Takeover Board takes decision on opting-out glassonweb.com
Date: 9 March 2015
Source: www.sika.com

See more news about:

See more from these topics:

Others also read

Solar Innovations® Architectural Glazing Systems recently launched its new greenhouse planning website at Greenhouse.Planning.Solar.
Ian Ritchie to Keynote GPD Istanbul, 2018.
On January 19, 2018, Signing Ceremony for Coestablishment of Smart Technology School Between Triumph Group and New Jersey Institute of Technology was held in New Jersey Institute of Technology.
The final deadline for abstract submission for GPD China 2018 is 19 January, 2018.
FIT Show’s ‘Installation of the Year’ competition, which launched in 2017 with unprecedented success, is back for 2018. The hunt is now officially on to find the industry’s best glazed installations.
The 79th Conference on Glass Problems, taking place 5–8 November 2018 at the Greater Columbus Convention Center, has announced its Call for Abstracts.

Add new comment