Saint-Gobain: commitment to acquire Sika irrevocable

  Mergers, acquisitions & disposals

Saint-Gobain has described its commitment to acquire a controlling interest in Swiss specialty chemical company Sika AG as ‘irrevocable’. Sika’s management and board of directors continue to speak out in opposition to the deal.

Acquisition
Saint-Gobain’s commitment to acquire a controlling interest in Sika is irrevocable
During its presentation covering 2014 full-year financials, French conglomerate Saint-Gobain’s management described its commitment to acquire a controlling interest in Swiss specialty chemical company Sika AG as ‘irrevocable’. “Consequently, we hope that those members of Sika’s management team who currently oppose the transaction will rethink their position and the radical steps they have taken which are detrimental to the group’s 17,000 employees,” management writes in the report.
“Saint-Gobain wishes to reassure Sika’s employees that their jobs are safe: no layoffs due to restructuring are associated with the transaction,” according to the financial report.
Saint-Gobain management contends in its report that as a publically listed company, certain members of Sika’s management and its board cannot: “Decide when and to whom shareholders can sell their shares; and interpret the company’s bylaws differently depending on events or on the identity of the owners of one of its shareholders with the aim of stripping that shareholder of its rights.”
“Amidst all the media uproar following the announcement of the transaction, analysts’ opinions about an overreaction by the market went unheeded,” Saint-Gobain officials wrote in their full-year financial report.
“The steps taken by part of Sika’s management have led to a climate of uncertainty, which has been detrimental to certain Sika shareholders who sold their shares, while enabling other investors to ca...



expand

Channel: Mergers, acquisitions & disposals

1.431 Total news items for this channel since 1996
Next »
Page  1 2 3 4 5 6 7 8 9 10... Last of 35 
latest Order by:

GlassOnline News by Channel

CNUDEFCOtakesfinancialparticipationinGFT

2018-07-20
CNUD-EFCO has signed a financial participation agreement with the owners of GFT, in a move to strengthen both...

Sisecam276

2018-06-28
A global player in the glass industry, Sisecam Group is reinforcing its position in the Indian market thanks to the...

Barberini

2018-06-26
Luxottica has announced that it has bought sun lens maker Barberini for EUR 140 million, consolidating its strategy of...

Acquisition3

2018-06-26
Roto Frank has strengthened its expansion strategy in Mexico through the acquisition of door and window hardware...

Sangallivetro735x400

2018-06-20
Sisecam Group, a global actor in business fields including all main areas of glass industry, has acquired its second...

AGPSOLIVER1000pxlogo

2018-06-19
Through its acquisition of Soliver NV, AGP will pave the way to expand its eGlass value proposition into Europe,...

Borkowskimerger345euyshruyh5ym35v8rgg

2018-06-19
O-I and Nadir Figureido have resigned from merging, according to a press release published on ISTOÉ.

SafeliteAutoGlass

2018-06-07
Acquisition leverages the strengths of both businesses and enhances business opportunities.

2016102304453920160124095809Zippe

2018-05-31
A new name has entered the glass sector thanks to the acquisition of Lahti Precision’s glass unit by Zippe I...

Merger

2018-05-09
Verallia’s Algerian subsidiary Alver has been sold to Condor Electronics.

BU009563

2018-04-26
Saint-Gobain has set up a joint venture with Chinese group JJG, in a move to double its production of basic glass.

Bohle23418

2018-04-24
After acquiring American Portals Hardware in January, Bohle has announced that it is now participating in Mc-Slide – a h...

BohleShowroom

2018-04-20
Bohle America continues expansion with foremost shower and bath hardware designer, manufacturer and distributor.

Download

2018-04-18
CRH has announced that it has acquired Coral Industries, thus focussing on growth in glass fabrication and...

Containers

2018-04-16
Nampak recently informed shareholders that it is selling its glass division, adding that discussions had been held with...

Companypurchase

2018-03-23
Verescence’s Sao Paulo plant will be taken over by Brazilian glass packaging manufacturer Wheaton, in a move to become o...

2018GianniScottiADSaintGobainAreaMed

2018-03-20
Saint-Gobain has announced the acquisition of Logli Massimo, a company specialized in systems and accessories for the...

Acquisition3

2018-03-12
Schott is strengthening its footprint in Asia with further investments. The new joint venture company – Zhejiang C...

Acquisitions

2018-02-19
Allegion has announced that it is to acquire AD Systems, a company that designs and manufactures high-performance...

SisecamFlatGlassItaly

2018-02-08
Sisecam Group continues to seize inorganic growth opportunities in addition to new investments. Currently the largest...

Seves

2018-01-26
SEVES Group has announced that it has sold its VITRABLOK Glass Block Division to private equity firm ASC Investment,...

Acquisitions

2018-01-08
Technical Glass Products has been acquired by Allegion, a leading global security products and solutions provider,...

2017-12-05
RHI has completed its merger with Magnesita Refratarios, resulting in a new company called RHI Magnesita.

Schottepvariousproducts20171123

2017-11-30
Schott has announced that it has entered into an agreement with its current joint venture partner NEC Corporation to...

BungalowMardenmain

2017-11-08
Saint-Gobain has completed the acquisition of Scotframe, thus complementing its Building Distribution portfolio in the...

Acquisitions

2017-11-03
Andersen is expanding its product portfolio with the acquisition of Fenêtres MQ, which serves the luxury residential ...

ProductsFenzi

2017-11-01
The new name, Fenzi Polska, formalizes the company’s complete merger with the Group – the crowning moment of a journey b...

Acquisition3

2017-10-23
Vidrala has completed the acquisition of Santos Barosa Vidros, which will, the company says, provide benefits to...

LogoHEGLABoraidentversionenv101

2017-10-17
As of 5 October, boraident, based in Saxony-Anhalt, Germany, has been taken over by the HEGLA Group. All company...

Jointventure

2017-09-26
PGT Innovations has sold its assets for processing door glass to Cardinal Glass Industries, announcing that the two...

Handshake

2017-09-01
Jeld-Wen has acquired Milliken Millwork (MMI Door), making it Jeld-Wen’s eighth acquisition in the last two years. MMI D...

AcquisitionofGlassDynamicsbyPressGlass

2017-08-31
Press Glass has announced that its American sister company, Press Glass NA, has acquired the total share assets of...

Takeover

2017-08-29
The publication of a buyout offer by Bareck Overseas, a wholly owned subsidiary of Portugal's BA Vidro, for the...

Imageimg

2017-08-28
Sika’s acquisition of ABC Sealants will further establish Sika as a comprehensive supplier of solutions for interior f...

Acquisition

2017-08-25
WTS Paradigm has acquired its competitor 360 Innovations, which will now operate as a division of WTS Paradigm.

01GCS

2017-08-23
Permasteelisa Group, will join forces with Grandland Group – a fast growing, Shenzhen-based specialist in design and c...

Acquisition

2017-08-04
Dip-Tech, a world-leading provider of digital ceramic in-glass printing solutions, has been taken over by Ferro...

Movetro

2017-07-28
Expanding the range of products in the sector dedicated to systems and lines for machining flat glass.

Acquisition3

2017-07-06
Jeld-Wen has announced its seventh acquisition in the past two years, buying Mattiovi Oy, a leading Finnish...

Takeover

2017-06-29
Roto Frank has acquired Union to strengthen and expand its door and window technology division.

Vidrala22copy

2017-06-26
Vidrala, S.A. has executed a letter of intent for the acquisition of a controlling stake in the Portuguese company...

Acquisition

2017-06-22
AGC Asahi Glass will sell its 100% of its shares in AGC Flat Glass Philippines by the end of December 2017.

1.431 Total news items for this channel since 1996
Next »
Page  1 2 3 4 5 6 7 8 9 10... Last of 35 
Other channels: A.T.I.V. Articles - Adhesives and sealants - Advanced electronics - Anniversary - Art & culture - Autoglass - Automation and it - Automotive glass - Batch plants - Building applications - Case history - Coatings - Cold-end - Company financial news - Company news - Conditioning - Containers - Conveyors - Cooperation - Country outlook - Crystal - Cullet treatment - Cutting technology - Decoration - Design - Diamond Tools - Directives - Double glazing - Ecology - Edging - Energy saving - Events - Fibre treatment - Forming - Furnace technology - Glazing / Insulating Glass - Government - Grinding and bevelling - Handling - Hot-end equipment - Ig equipment - Industry update - Innovation - Inspection - Laminating - Legal news - Machinery developments - Manufacturing technology - Markets & trends - Mergers, acquisitions & disposals - Mirror technology - Mould technology - Other news - Palletising/depalletising - People - Personnel & industrial relations - Photovoltaic glass - Plant technology - Printing and tempering - Processing - Product news - Production costs - Recycling - Refractories - Representative organizations - Research and development - Resin technology - Safety glass - Science & technology - Screen printing equipment - Sealants - Sector trends - Software - Specialist applications - Statistics - Storage and handling - Surface treatment - Surveys - Tableware - Tempering technology - Testing - Thermal imaging - Thermal insulation - Treatment plants - Tube production - Viewpoint - Worker safety -

Our Glass Magazines & Annual Guides Read online free of charge

Glass-Technology International
 
Glass Machinery Plants & Accessories
 
World Glass Directory
 
Flat Glass World Directory
 
Return to top

Powered by GlassOnline Logo

Copyright © A151 S.r.l. 1996-2018 - All rights reserved

A151 S.r.l. - publications@glassonline.com - Cookie policy
Registered office: Via Antonio Gramsci, 57 - 20032 Cormano (MI), Italy
Company registry - Milan, REA No.: MI-2111551 | Share capital: € 10,000 | P.IVA/VAT No.: IT 02769870342