Sika board gains support of Credit Suisse funds in defense against Saint-Gobain takeover
Sika, the listed Swiss chemicals group, has secured the backing of Credit Suisse funds in its defense against the takeover attempt by French chemicals group Saint-Gobain, Schweiz am Sonntag reported.
Without revealing its source, the Swiss weekly publication said that the Credit Suisse funds have given its verbal backing to the Sika board. Credit Suisse has not made an official statement regarding the situation, the report stated. The Credit Suisse funds are thought to own a total of 3% to 4% in Sika taking the Sika board's support to around 43%.
Schweiz am Sonntag