Swiss court defies Gates appeal to block Saint-Gobain Sika takeover

By Laura Syrett
Published: Wednesday, 02 September 2015

A ruling by the Federal Administrative Court that the French construction materials giant can use an “opt-out” facility to dodge public shareholders in its bid to acquire the Swiss chemicals business moves Saint-Gobain closer to sealing the deal, but a number of legal barriers erected by opponents of the takeover remain.

Swiss chemicals business Sika is a step closer to being taken over by French rival construction materials behemoth Saint-Gobain today, after the Federal Administrative Court in Switzerland rejected an appeal by the Bill and Melinda Gates Foundation and Cascade Investment to prevent the sale.

The Swiss federal administrative court confirmed...

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