Resumen de Saint Gobain-Sika saga rolls on

Siobhan Lismore-Scott, Laura Syrett

• The meeting was dubbed crisis talks following the announcement that Sika's board would resign if Saint Gobain's move to buy 16% of the Burkard family's shares in Sika, whose stock attracts a 52% controlling share of voting rights, went through.

  According to the UK's Financial Times, Sika's board retained the services of Perella Weinberg Partners in January to block the Swiss franc 2.75bn ($2.8bn*) deal, after Saint Gobain's offer was accepted by the Burkard family on 8 December last year. Saint Gobain confirmed that it had hedged the purchase price for the deal against exchange rate fluctuations, following the cancellation of a cap on the value of the Swiss franc.

  The deal would value the Burkhard family's stake at a 78% premium to Sika's share price as of 5 December 2014, but has been met with fierce opposition from the Sika board because, under Sika's corporate rules, it would enable Saint Gobain to gain control of the business without having to acquire the rest of Swiss company's shares.