World Economy

Merger Row

Merger RowMerger Row

A bitter row over a plan by French building materials giant Saint-Gobain to take over Sika of Switzerland, which produces chemicals used in construction, caused shares in both groups to plunge on Monday. Saint-Gobain agreed to sell it for 2.75 billion Swiss francs ($2.8b). Saint-Gobain shares sank 4.9% in late morning trade after it announced the takeover bid, while Sika’s nosedived 17.37%.