Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/html/wp-includes/functions.php on line 6260 Federal Administrative Court Confirms Validity of Opting-Out Clause - Coatings World

What are you searching for?

Sign in
Breaking News

Federal Administrative Court Confirms Validity of Opting-Out Clause

By: Catherine Diamon

The Federal Administrative Court rejected has the appeal filed by the shareholder group William H. Gates III and Melinda French Gates (as Trustees of the Bill & Melinda Gates Foundation Trust) and Cascade Investment. With this decision, the Federal Administrative Court confirmed FINMA’s decision pursuant to which the opting-out clause, according to article 5 of Sika AG’s articles of association, is applicable to the proposed acquisition of Schenker-Winkler Holding AG by Saint-Gobain and Saint-Gobain is not obliged to submit a public tender offer to all shareholders of Sika AG.

Sika itself did not appeal the FINMA decision and was not a party to the proceedings before the Federal Administrative Court.

The now-completed takeover proceedings only concern the issue of the opting-out and do not concern the issue of whether article 4 of the articles of association also applies to the indirect sale of the Sika stake by the family Burkard. This latter issue is at the core of the civil proceedings pending in Zug.

Add us as a preferred source on Google

Get the latest Coatings World news, insights and analysis in your Google Search and AI experiences.

Add Coatings World as a preferred source on Google (opens in a new tab)

Keep Up With Our Content. Subscribe To Coatings World Newsletters