Sector News

Sika CEO says hopes for good M&A deals in 2016

January 13, 2016
Chemical Value Chain

(Reuters) – Sika hopes to pull off some “good” acquisitions in 2016, the Swiss chemicals firm’s chief executive said on Tuesday.

“We always have a pipeline of targets we work on, we negotiate and we discuss. Hopefully we’re also going to have some good ones in 2016,” Jan Jenisch said in call with analysts after posting fourth-quarter results.

Sika is caught in an attempted 2.75 billion Swiss franc ($2.75 billion) takeover by Saint-Gobain. The deal is backed by Switzerland’s wealthy Burkard-Schenker family, the pivotal Sika shareholder, but opposed by the Swiss firm’s management and many board members. Jenisch said he expected a court ruling my mid-year.

($1 = 1.0012 Swiss francs) (Reporting by Joshua Franklin; Editing by Michael Shields)

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