Defense of sia Abrasives against hostile takeover bid from Behr Deflandre & Snozzi BDS AG of CHF 345m
Swiss Capital Group advised sia Abrasives
Defense of sia Abrasives against hostile takeover bid from Behr Deflandre & Snozzi BDS AG of CHF 345m
Sector(s) : Building Materials & Construction
Date : October 2008
Advisor(s) : Swiss Capital
Advised : Sell Side
Mid-Capital partner Swiss Capital Group advised sia Abrasives
On August 25, 2008 sia Abrasives faced an announcement for a hostile takeover bid from Giorgio Behr of CHF 385 per share. In September, BBC reported a stake in sia of almost 40%. The sia Group develops, manufactures, and markets complete, customized abrasive systems for the treatment of surfaces of all kinds. In fiscal 2007, sia generated global sales of just under CHF 300m (roughly EUR 190m), and employed some 1’150 employees.
Swiss Capital Group, together with the board and the management of sia, successfully defended sia against BBC, despite the latter’s c. 40% stake, and increased the return to sia’s shareholders by CHF 50 per share.
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