{"id":11897,"date":"2015-01-26T10:35:37","date_gmt":"2015-01-26T10:35:37","guid":{"rendered":"http:\/\/www.compositestoday.com\/?p=11897"},"modified":"2015-01-26T10:50:52","modified_gmt":"2015-01-26T10:50:52","slug":"sika-looks-buy-axson-board-blocks-saint-gobain-takeover","status":"publish","type":"post","link":"https:\/\/www.compositestoday.com\/2015\/01\/sika-looks-buy-axson-board-blocks-saint-gobain-takeover\/","title":{"rendered":"Sika Looks to Buy Axson as Board Blocks Saint Gobain Takeover"},"content":{"rendered":"

Axson Technologies is a leader in high performance epoxy and polyurethane polymer formulations for design, prototyping and tooling, structural adhesives, composite materials and encapsulation products for the automotive, nautical, renewable energy, sports & leisure and construction markets. The transaction is subject to conditions including anti-trust approvals in certain jurisdictions as well as consultations with employee representatives.<\/p>\n

Meanwhile a legal battle looks to be\u00a0hotting up as the Swiss epoxy manufacturer resisted a takeover attempt by Cie. de Saint-Gobain SA. Members of the company\u2019s founding family were blocked in their attempts to use their majority voting powers to sell to the French company\u00a0for $3.1 billion.<\/p>\n

in a press release earlier in the month the company announced;<\/p>\n

We can confirm that a meeting between representatives of Sika and Saint-Gobain took place today in Zurich. Sika entered this meeting in good faith and was expecting constructive discussions. However, Saint-Gobain continues to ignore the detrimental effects of the transaction on Sika and its shareholders. The concerns of Sika\u2019s shareholders, Sika Management and Board are not taken serious. Furthermore, we distance ourselves from any claim made by Saint-Gobain that we have a joint view on possible synergies or any other aspect of the transaction. Sika will continue to act in the interest of its shareholders and other stakeholders.<\/p><\/blockquote>\n

In a statement by the Baar-company, the Burkard family\u2019s vote should be limited to 5% and doesn\u2019t have the right to arrange extraordinary general meetings. The family wants to oust current Sika chairman along with board members and agreed in December to sell its 16.1% equity stake and over 50% voting control to the french company.<\/p>\n

Bloomberg<\/a>\u00a0are reporting\u00a0that a shareholder group which\u00a0includes the Bill & Melinda Gates Foundation moved last week to block the sale, calling for a probe to see whether non-public information had been used, which will increase the chance of a long drawn out legal battle.<\/p>\n

The company\u2019s share price rose over 4% with analysts predicting that the probability of the deal falling through increased to around 70%. Board members are saying that the deal will threaten the growth of the company and that these negotiations have damaged a century-old relationship with the founding family.<\/p>\n

The Burkard family is angered by Sika management\u2019s resistance to the deal, and has filed a legal motion to push forward with a shareholder meeting where they could possibly oust board members who oppose the transaction.<\/p>\n","protected":false},"excerpt":{"rendered":"

Axson Technologies is a leader in high performance epoxy and polyurethane polymer formulations for design, prototyping and tooling, structural adhesives, composite materials and encapsulation products for the automotive, nautical, renewable energy, sports & leisure and construction markets. The transaction is subject to conditions including anti-trust approvals in certain jurisdictions as well as consultations with employee representatives. Meanwhile a legal battle looks to be\u00a0hotting up as the Swiss epoxy manufacturer resisted a takeover attempt by Cie. de Saint-Gobain SA. Members of […]<\/p>\n","protected":false},"author":2,"featured_media":11900,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[677,8,512],"tags":[854,571],"class_list":["post-11897","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-acquisitions-industrial-news","category-industrial-news","category-composites-news","tag-saint-gobain","tag-sika"],"yoast_head":"\nSika Looks to Buy Axson as Board Blocks Saint Gobain Takeover<\/title>\n<meta name=\"description\" content=\"Sika has announced its entered into exclusive negotiations with Axson to acquire the business,\u00a0while in the boardroom the company is looking to freeze out founders pushing an unwanted takeover with Saint Gobain.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.compositestoday.com\/2015\/01\/sika-looks-buy-axson-board-blocks-saint-gobain-takeover\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sika Looks to Buy Axson as Board Blocks Saint Gobain Takeover\" \/>\n<meta property=\"og:description\" content=\"Sika has announced its entered into exclusive negotiations with Axson to acquire the business,\u00a0while in the boardroom the company is looking to freeze out founders pushing an unwanted takeover with Saint Gobain.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.compositestoday.com\/2015\/01\/sika-looks-buy-axson-board-blocks-saint-gobain-takeover\/\" \/>\n<meta property=\"og:site_name\" content=\"Composites Today\" \/>\n<meta property=\"article:publisher\" content=\"http:\/\/www.facebook.com\/compositestoday\" \/>\n<meta property=\"article:published_time\" content=\"2015-01-26T10:35:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2015-01-26T10:50:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i1.wp.com\/www.compositestoday.com\/wp-content\/uploads\/2015\/01\/sika.jpg?fit=940%2C300&ssl=1\" \/>\n\t<meta property=\"og:image:width\" content=\"940\" \/>\n\t<meta property=\"og:image:height\" content=\"300\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"John Shury\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@compositestoday\" \/>\n<meta name=\"twitter:site\" content=\"@compositestoday\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"John Shury\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.compositestoday.com\/2015\/01\/sika-looks-buy-axson-board-blocks-saint-gobain-takeover\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.compositestoday.com\/2015\/01\/sika-looks-buy-axson-board-blocks-saint-gobain-takeover\/\"},\"author\":{\"name\":\"John Shury\",\"@id\":\"https:\/\/www.compositestoday.com\/#\/schema\/person\/2255d6443dbc2184a1d531f1b359b589\"},\"headline\":\"Sika Looks to Buy Axson as Board Blocks Saint Gobain Takeover\",\"datePublished\":\"2015-01-26T10:35:37+00:00\",\"dateModified\":\"2015-01-26T10:50:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.compositestoday.com\/2015\/01\/sika-looks-buy-axson-board-blocks-saint-gobain-takeover\/\"},\"wordCount\":412,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.compositestoday.com\/2015\/01\/sika-looks-buy-axson-board-blocks-saint-gobain-takeover\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/www.compositestoday.com\/wp-content\/uploads\/2015\/01\/sika.jpg?fit=940%2C300&ssl=1\",\"keywords\":[\"saint-gobain\",\"sika\"],\"articleSection\":[\"Acquisitions\",\"Business News\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.compositestoday.com\/2015\/01\/sika-looks-buy-axson-board-blocks-saint-gobain-takeover\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.compositestoday.com\/2015\/01\/sika-looks-buy-axson-board-blocks-saint-gobain-takeover\/\",\"url\":\"https:\/\/www.compositestoday.com\/2015\/01\/sika-looks-buy-axson-board-blocks-saint-gobain-takeover\/\",\"name\":\"Sika Looks to Buy Axson as Board Blocks Saint Gobain Takeover\",\"isPartOf\":{\"@id\":\"https:\/\/www.compositestoday.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.compositestoday.com\/2015\/01\/sika-looks-buy-axson-board-blocks-saint-gobain-takeover\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.compositestoday.com\/2015\/01\/sika-looks-buy-axson-board-blocks-saint-gobain-takeover\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/www.compositestoday.com\/wp-content\/uploads\/2015\/01\/sika.jpg?fit=940%2C300&ssl=1\",\"datePublished\":\"2015-01-26T10:35:37+00:00\",\"dateModified\":\"2015-01-26T10:50:52+00:00\",\"author\":{\"@id\":\"https:\/\/www.compositestoday.com\/#\/schema\/person\/2255d6443dbc2184a1d531f1b359b589\"},\"description\":\"Sika has announced its entered into exclusive negotiations with Axson to acquire the business,\u00a0while in the boardroom the company is looking to freeze out founders pushing an unwanted takeover with Saint Gobain.\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.compositestoday.com\/2015\/01\/sika-looks-buy-axson-board-blocks-saint-gobain-takeover\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.compositestoday.com\/2015\/01\/sika-looks-buy-axson-board-blocks-saint-gobain-takeover\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/www.compositestoday.com\/wp-content\/uploads\/2015\/01\/sika.jpg?fit=940%2C300&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/www.compositestoday.com\/wp-content\/uploads\/2015\/01\/sika.jpg?fit=940%2C300&ssl=1\",\"width\":940,\"height\":300},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.compositestoday.com\/#website\",\"url\":\"https:\/\/www.compositestoday.com\/\",\"name\":\"Composites Today\",\"description\":\"Latest news and information from the composites industry\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.compositestoday.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.compositestoday.com\/#\/schema\/person\/2255d6443dbc2184a1d531f1b359b589\",\"name\":\"John Shury\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.compositestoday.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/6c08fedc5099d3dee55496cafdd820609f7d3a7d0cc782004d01e08173baf1ba?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/6c08fedc5099d3dee55496cafdd820609f7d3a7d0cc782004d01e08173baf1ba?s=96&d=mm&r=g\",\"caption\":\"John Shury\"},\"description\":\"John has served in the composites industry for over 15 years in administration, sales and management roles and is the founder of Composites Media\",\"sameAs\":[\"http:\/\/www.compositestoday.com\",\"https:\/\/x.com\/compositestoday\"],\"url\":\"https:\/\/www.compositestoday.com\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Sika Looks to Buy Axson as Board Blocks Saint Gobain Takeover","description":"Sika has announced its entered into exclusive negotiations with Axson to acquire the business,\u00a0while in the boardroom the company is looking to freeze out founders pushing an unwanted takeover with Saint Gobain.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.compositestoday.com\/2015\/01\/sika-looks-buy-axson-board-blocks-saint-gobain-takeover\/","og_locale":"en_US","og_type":"article","og_title":"Sika Looks to Buy Axson as Board Blocks Saint Gobain Takeover","og_description":"Sika has announced its entered into exclusive negotiations with Axson to acquire the business,\u00a0while in the boardroom the company is looking to freeze out founders pushing an unwanted takeover with Saint Gobain.","og_url":"https:\/\/www.compositestoday.com\/2015\/01\/sika-looks-buy-axson-board-blocks-saint-gobain-takeover\/","og_site_name":"Composites Today","article_publisher":"http:\/\/www.facebook.com\/compositestoday","article_published_time":"2015-01-26T10:35:37+00:00","article_modified_time":"2015-01-26T10:50:52+00:00","og_image":[{"width":940,"height":300,"url":"https:\/\/i1.wp.com\/www.compositestoday.com\/wp-content\/uploads\/2015\/01\/sika.jpg?fit=940%2C300&ssl=1","type":"image\/jpeg"}],"author":"John Shury","twitter_card":"summary_large_image","twitter_creator":"@compositestoday","twitter_site":"@compositestoday","twitter_misc":{"Written by":"John Shury","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.compositestoday.com\/2015\/01\/sika-looks-buy-axson-board-blocks-saint-gobain-takeover\/#article","isPartOf":{"@id":"https:\/\/www.compositestoday.com\/2015\/01\/sika-looks-buy-axson-board-blocks-saint-gobain-takeover\/"},"author":{"name":"John Shury","@id":"https:\/\/www.compositestoday.com\/#\/schema\/person\/2255d6443dbc2184a1d531f1b359b589"},"headline":"Sika Looks to Buy Axson as Board Blocks Saint Gobain Takeover","datePublished":"2015-01-26T10:35:37+00:00","dateModified":"2015-01-26T10:50:52+00:00","mainEntityOfPage":{"@id":"https:\/\/www.compositestoday.com\/2015\/01\/sika-looks-buy-axson-board-blocks-saint-gobain-takeover\/"},"wordCount":412,"commentCount":0,"image":{"@id":"https:\/\/www.compositestoday.com\/2015\/01\/sika-looks-buy-axson-board-blocks-saint-gobain-takeover\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/www.compositestoday.com\/wp-content\/uploads\/2015\/01\/sika.jpg?fit=940%2C300&ssl=1","keywords":["saint-gobain","sika"],"articleSection":["Acquisitions","Business News","News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.compositestoday.com\/2015\/01\/sika-looks-buy-axson-board-blocks-saint-gobain-takeover\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.compositestoday.com\/2015\/01\/sika-looks-buy-axson-board-blocks-saint-gobain-takeover\/","url":"https:\/\/www.compositestoday.com\/2015\/01\/sika-looks-buy-axson-board-blocks-saint-gobain-takeover\/","name":"Sika Looks to Buy Axson as Board Blocks Saint Gobain Takeover","isPartOf":{"@id":"https:\/\/www.compositestoday.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.compositestoday.com\/2015\/01\/sika-looks-buy-axson-board-blocks-saint-gobain-takeover\/#primaryimage"},"image":{"@id":"https:\/\/www.compositestoday.com\/2015\/01\/sika-looks-buy-axson-board-blocks-saint-gobain-takeover\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/www.compositestoday.com\/wp-content\/uploads\/2015\/01\/sika.jpg?fit=940%2C300&ssl=1","datePublished":"2015-01-26T10:35:37+00:00","dateModified":"2015-01-26T10:50:52+00:00","author":{"@id":"https:\/\/www.compositestoday.com\/#\/schema\/person\/2255d6443dbc2184a1d531f1b359b589"},"description":"Sika has announced its entered into exclusive negotiations with Axson to acquire the business,\u00a0while in the boardroom the company is looking to freeze out founders pushing an unwanted takeover with Saint Gobain.","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.compositestoday.com\/2015\/01\/sika-looks-buy-axson-board-blocks-saint-gobain-takeover\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.compositestoday.com\/2015\/01\/sika-looks-buy-axson-board-blocks-saint-gobain-takeover\/#primaryimage","url":"https:\/\/i0.wp.com\/www.compositestoday.com\/wp-content\/uploads\/2015\/01\/sika.jpg?fit=940%2C300&ssl=1","contentUrl":"https:\/\/i0.wp.com\/www.compositestoday.com\/wp-content\/uploads\/2015\/01\/sika.jpg?fit=940%2C300&ssl=1","width":940,"height":300},{"@type":"WebSite","@id":"https:\/\/www.compositestoday.com\/#website","url":"https:\/\/www.compositestoday.com\/","name":"Composites Today","description":"Latest news and information from the composites industry","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.compositestoday.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.compositestoday.com\/#\/schema\/person\/2255d6443dbc2184a1d531f1b359b589","name":"John Shury","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.compositestoday.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/6c08fedc5099d3dee55496cafdd820609f7d3a7d0cc782004d01e08173baf1ba?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/6c08fedc5099d3dee55496cafdd820609f7d3a7d0cc782004d01e08173baf1ba?s=96&d=mm&r=g","caption":"John Shury"},"description":"John has served in the composites industry for over 15 years in administration, sales and management roles and is the founder of Composites Media","sameAs":["http:\/\/www.compositestoday.com","https:\/\/x.com\/compositestoday"],"url":"https:\/\/www.compositestoday.com\/author\/admin\/"}]}},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.compositestoday.com\/wp-content\/uploads\/2015\/01\/sika.jpg?fit=940%2C300&ssl=1","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p1v6ak-35T","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.compositestoday.com\/wp-json\/wp\/v2\/posts\/11897","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.compositestoday.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.compositestoday.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.compositestoday.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.compositestoday.com\/wp-json\/wp\/v2\/comments?post=11897"}],"version-history":[{"count":0,"href":"https:\/\/www.compositestoday.com\/wp-json\/wp\/v2\/posts\/11897\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.compositestoday.com\/wp-json\/wp\/v2\/media\/11900"}],"wp:attachment":[{"href":"https:\/\/www.compositestoday.com\/wp-json\/wp\/v2\/media?parent=11897"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.compositestoday.com\/wp-json\/wp\/v2\/categories?post=11897"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.compositestoday.com\/wp-json\/wp\/v2\/tags?post=11897"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}