StockMarketWire.com - Compagnie de Saint-Gobain says it has taken notice of the acts of the board of directors of Sika.

Saint-Gobain says it is advised by its legal counsel that the actions are clearly against all corporate law and governance principles in Switzerland.

Saint-Gobain does not influence the decision making of SWH and is prohibited from doing so under applicable merger laws.

Last month Compagnie de Saint-Gobain announced plans to acquire a controlling interest in Sika, world leader in construction chemicals.

A statement issued at the time said that the transaction involves Saint-Gobain's purchase of Schenker Winkler Holding AG, owner of 16.1% of Sika's capital and 52.4% of its voting rights, for CHF2.75bn (~€2.3bn).

It said that following the acquisition, the Saint-Gobain Group would be able to fully consolidate Sika in its accounts, leading to a positive impact on net income as from the first year.

Saint-Gobain said it did not intend to launch an offer for Sika's remaining shares and had full confidence in the company to continue developing the business.


At 9:24am: [LON:COD] Compagnie De Stgobain share price was -0.68p at 37.92p



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