AKZO NOBEL NETHERLANDS SICO CANADA TAKEOVER
April 1st, 2006
BY MONICA DOBIE
DUTCH coatings giant Akzo Nobel NV has taken over Canadian paintmaker Sico Inc. for approximately CDN$284 million.
Akzo based in Arnhem, the Netherlands, will acquire all of Sico's outstanding common shares at a cash price of CDN$20 per share and will also offer to buy Sico's class B preferred shares for CDN$3.8 million in total. Under the agreement, Sico will retain its name for all its products and services and the company's head office will continue to operate out of Longueuil, Québec, Canada.
"We welcome this unsolicited offer from ...
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