BFW 05/04 16:16 Finma Rejects Sika Offer Appeal by Gates Foundation, Cascade
MORE: Finma Rejects Sika Offer Appeal by Gates, Cascade
2015-05-04 19:25:01.295 GMT
By James Kraus
(Bloomberg) -- FINMA Takeover Committee rejects appeal made
by William H. Gates III and Melinda French Gates, trustees of
the Bill & Melinda Gates Foundation Trust, and Cascade
Investment against TOB decision 598/01 in the matter of Sika AG,
Swiss financial markets regulator says in e-mail statement.
* Decision take in response to appeal of decision that opting
out clause set out in Article 5 of Sika’s articles of
association does apply to the transaction between Schenker-
Winkler Holding and Compagnie de Saint-Gobain whereby SWH,
Saint-Gobain, or any persons in concert with them aren’t
obliged to present a public takeover offer to the Sika
shareholders
* Schenker-Winkler Holding says in statement that Finma
decision shows opting-out clause was transparent for
everyone involved
* Procedural expenses of CHF45,000 imposed on parties to the
dispute, with SWH and Saint-Gobain awarded damages: SWH
* Finma decision can be appealed to the Swiss Federal
Administrative court: SWH
* NOTE: April 27, Sika Sees Disclosure Duty Breach by Burkard
Heirs, Saint-Gobain
Story Link:NSN NNU2KB6S9729<GO>
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
James Kraus in Geneva at +41-22-317-9232 or
jkraus2@bloomberg.net
To contact the editors responsible for this story:
Mariajose Vera at +49-89-244478-803 or
mvera1@bloomberg.net
2015-05-04 19:25:01.295 GMT
By James Kraus
(Bloomberg) -- FINMA Takeover Committee rejects appeal made
by William H. Gates III and Melinda French Gates, trustees of
the Bill & Melinda Gates Foundation Trust, and Cascade
Investment against TOB decision 598/01 in the matter of Sika AG,
Swiss financial markets regulator says in e-mail statement.
* Decision take in response to appeal of decision that opting
out clause set out in Article 5 of Sika’s articles of
association does apply to the transaction between Schenker-
Winkler Holding and Compagnie de Saint-Gobain whereby SWH,
Saint-Gobain, or any persons in concert with them aren’t
obliged to present a public takeover offer to the Sika
shareholders
* Schenker-Winkler Holding says in statement that Finma
decision shows opting-out clause was transparent for
everyone involved
* Procedural expenses of CHF45,000 imposed on parties to the
dispute, with SWH and Saint-Gobain awarded damages: SWH
* Finma decision can be appealed to the Swiss Federal
Administrative court: SWH
* NOTE: April 27, Sika Sees Disclosure Duty Breach by Burkard
Heirs, Saint-Gobain
Story Link:NSN NNU2KB6S9729<GO>
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
James Kraus in Geneva at +41-22-317-9232 or
jkraus2@bloomberg.net
To contact the editors responsible for this story:
Mariajose Vera at +49-89-244478-803 or
mvera1@bloomberg.net