January 19, 2018 / 6:21 PM / a year ago

Sika CEO says share price rise could end takeover battle: Finanz und Wirtschaft

The company logo of Swiss chemicals group Sika is seen at a plant in Duedingen, Switzerland June 15, 2017. REUTERS/Denis Balibouse

ZURICH (Reuters) - Sika’s SIK.S rising share price could bring an end to a long-running takeover fight with French construction group Saint-Gobain (SGOB.PA), Sika CEO Paul Schuler told Finanz und Wirtschaft in an interview.

The founding Burkard family could get a “very good price” for their controlling stake by selling to Sika rather than Saint-Gobain, Schuler said.

Sika’s share price has more than doubled since Saint-Gobain’s offer was announced in Dec. 2014, higher than the French company’s bid which was at an 80 percent premium.

This “offers a change for all three parties to come out of this as winners,” Schuler told the newspaper in an interview to be published on Saturday.

“Sika stays independent, the Burkard family sell their shares and receive a very good price. We are working towards this goal,” he said.

The family would sell their shares to Sika, he said. “The board has an offer ready for the family,” he said.

Reporting by John Revill. Editing by Jane Merriman

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