SGO Cie de SaintGobain

By Nick Kostov

PARIS--French building materials giant Saint-Gobain SA (SGO.FR) said Monday it has received antitrust approval from all relevant authorities to buy Swiss construction and automotive chemicals maker Sika AG (SIK.AG), a year after the bitter $2.76 billion takeover battle began.

Saint Gobain said CADE, Brazil's competition authority, had approved the deal without the need for changes. Similar approvals had already been obtained from Switzerland and the European Commission.

Sika's board is still opposed to the takeover, the French company said. Earlier this month, Sika Chairman Paul Hälg wrote an open letter to Saint-Gobain shareholders saying the planned takeover would destroy value at both companies.

-Write to Nick Kostov atnick.kostov@wsj.com

(END) Dow Jones Newswires

December 07, 2015 03:07 ET (08:07 GMT)

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