Sika shareholder J. Stern & Co says Saint-Gobain should make same offer to all shareholders
Sika shareholder J. Stern & Co has criticized the takeover by French chemicals group Saint-Gobain, Tagesanzeiger reported. The Swiss daily cited Jérôme Stern, chief of the Geneva/London based investor, who told French language Sunday newspaper that Le Matin Dimanche Saint-Gobain will buy the best assets in favourable conditions and take them to France. Stern said the sale should not be allowed unless Saint-Gobain makes the same offer to all shareholders and not just to the founding Burkard family.
Stern noted that the Saint-Gobain's share has barely moved since 2000, while the Sika share has gained 15.7% annually, the report stated.
Stern has held shares in the Swiss chemicals group since 2005, the report noted.
Tagesanzeiger