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Saint-Gobain ready for long fight to take over Sika

Staff Writer | November 7, 2016
Saint-Gobain remains committed to its deal to take over Sika by buying out the controlling stake held by the founding family of the Swiss firm, the French company's CFO Guillaume Texier told Swiss newspaper Tages-Anzeiger.
Acquisition   Saint-Gobain fully supported the Burkard
Texier said he was confident of a successful outcome despite a setback last week when a Swiss court ruled against the family and in favor of Sika's board, which is opposing the deal.

The executive said Saint-Gobain fully supported the Burkard family's decision to appeal against the verdict, which he was confident would be overturned by a higher court.

"We are prepared for a long legal dispute," Texier said in the interview published on Saturday.

"We knew it was highly probable that Sika or other parties would use legal means. We are however covered in terms of time with an option that allows us to extend the contract with the family until the end of 2018."