Adhesives Maker Resists Takeover

The Swiss adhesives and construction chemicals maker Sika is resisting a planned $2.8 billion takeover by the building products firm Saint-Gobain, which wants to move further into materials for construction. Saint-Gobain plans to purchase only the Sika founding family’s 16% stake, which comes with control over 52% of the firm’s voting rights. Because Saint-Gobain doesn’t plan to buy the remaining 84% of Sika, independent board members say they won’t be in a position to serve in the best interests of all shareowners. They are threatening to resign if the deal goes through.