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Shareholder Support for Sika Board of Directors Rises

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By: KERRY PIANOFORTE

Editor, Coatings World, Coatings World

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.

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