Sika bidder Saint-Gobain not prepared to discuss compromise solutions
Sika, the listed Swiss chemicals group, has made compromise solutions to Saint-Gobain in an attempt to resolve the takeover battle, Schweiz am Sonntag reported.
Sika Chairman Paul Haelg told the Swiss Sunday newspaper he has made two suggestions to resolve the situation. The first which would see Saint-Gobain acquire 100% of Sika would be very expensive, therefore, Haelg suggested a compromise solution whereby Sika acquires Sain-Gobain's mortar business. Haelg said Saint-Gobain is not prepared to discuss what he described as constructive suggestions, and has not made any suggestions itself.
Haelg said the Sika and Saint-Gobain mortar businesses are competitors and there would be a conflict of interest should Saint-Gobain allow both to compete under the same roof as it would own 100% in its own unit (operating under the Weber brand) and only 16% in Sika's unit.
Schweiz am Sonntag