Sika Signals Relations With Saint-Gobain Still as Frosty as EverJeffrey Vögeli
Sika AG, the target of an unwanted approach from Cie. de Saint-Gobain SA, is unlikely to find an amicable solution to the current stand off with its French suitor, according to Chief Executive Officer Jen Jenische.
Saint-Gobain is in a prolonged legal battle to push through the purchase of a minority stake with majority voting rights from members of Sika’s founding family. The construction materials maker, based in Courbevoie, France, has shown no interest in engaging in talks, Jenische said at an investors’ day on Tuesday.
“What we hear from Saint-Gobain is nothing anyone wants to base his future on,” the CEO said.