A PYMNTS Company

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

 |  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.

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.

Full content: Market Watch

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.