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Sika expects Friday ruling in St. Gobain takeover case

Published 10/28/2016, 06:39 AM
Updated 10/28/2016, 06:50 AM
© Reuters. Logo of Swiss chemicals group Sika on an office building in Zurich

ZURICH (Reuters) - A Zug court is set to rule on Friday whether the founding family of Swiss chemicals maker Sika (S:SIK) can sell control to French rival Saint-Gobain (PA:SGOB), the Swiss company said.

"The cantonal court of Zug has informed Sika that it will communicate the judgment to the parties in the case regarding the challenge of certain resolutions adopted by the Annual General Meeting of Sika in 2015 this evening," Sika said in a statement.

© Reuters. Logo of Swiss chemicals group Sika on an office building in Zurich

The judgment, to be published at 8 p.m. local time (1400 ET), will be followed by a media conference with Sika's chief executive and chairman. Investors see the ruling as a test of minority shareholders' rights in Switzerland.

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