FINMA Rejects Appeal Against Decision of the Swiss Takeover Board

Today FINMA has issued a decision rejecting the appeal lodged by the shareholder group of William H. Gates III and Melinda French Gates as trustees of Bill & Melinda Gates Foundation Trust as well Cascade Investment. With today's decision, FINMA has confirmed the decision of the Swiss Takeover Board pursuant to which the opting-out clause according to art. 5 of the articles of association of Sika AG applies to the proposed acquisition of Schenker‐Winkler Holding AG by Saint‐Gobain and, therefore, Saint‐Gobain is not obliged to submit a public tender offer to all shareholders of Sika AG.