minority investors: In negotiating the sale of the family 16 percent stake with majority voting rights to Saint-Gobain, he failed in his duty to act in the best interests of Sika, they said, according to Bloomberg. Cascade and the Foundation Trust lawsuit will be an unwelcome sign for the Burkards that the minority investors are committed to fighting the deal that hands just the family an 80 percent premium for their holding. The two investors are suing board director Urs Burkard for his part in the proposed transaction, Cascade and the Foundation Trust said in a statement Monday. Saint-Gobain already had to extend the deadline for completing the transaction to mid-2016, and the investors said that resisting the transaction has become a matter of principle. 0_5_1_5", ""); We hope this situation will be resolved soon for the sake of all of the stakeholders of Sika, but in our capacity as one of the largest owners of bearer shares we will continue to oppose the proposed transaction until reasonableness prevails, Cascade Chief Investment Officer Michael Larson said in a letter to Sika Chairman Paul Haelg. Saint-Gobain stock was up 2 percent at 42.05 euros. Sika declined 0.5 percent to 3,481 francs as of 4:35 p.m. in Zurich.
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