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France: St Gobain gets all clear from antitrust authorities for Sika $2.76 billion deal

By  |  December 7, 2015

French construction materials Saint-Gobain said on Monday it had received approval from all antitrust authorities for its attempted acquisition of Sika a year after it launched the 2.75 billion Swiss franc takeover.

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    Saint-Gobain still faces the opposition of the Swiss company’s management and most of its board, which are locked in a battle with the Burkard-Schenker family that is selling its 16.1 percent stake and majority voting rights to Saint-Gobain.

    “Saint-Gobain is respectfully and confidently waiting for the Swiss courts to allow Schenker-Winkler Holding to regain its property rights and close the deal,” the French group said in a statement.

    Saint-Gobain has extended its agreement with the family and its hedging contracts, it said in the statement on Monday.

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