In the latest twist in the legal battle of the Burkard family and Saint-Gobain (Courbevoie, France) versus the Sika (Baar, Switzerland) board and management, the Swiss Takeover Board (Zurich) has ruled that Saint-Gobain is not obliged to make an offer to all of the public shareholders in Sika to acquire their shares in the company. Saint-Gobain agreed in December 2014 to acquire the 16.1% of Sika's share capital held by Schenker-Winkler Holding (SWH), the holding company of the Burkard family, for 2.75 billion Swiss francs ($2.86 billion), a 78% premium to the market price at that time.
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