I used the 120-400 extensively (two years of weekly Motorsport uses, a couple of trips to Africa and general all round long reach tom-foolery) before I upgraded to a
second hand 100-400L (which I have been using in a similar capacity for a similar length of time).
The Sigma is a great lens (I'm not going to add a "for the money" either). I found to to be sharp and quick most of the time. The OS is excellent easily delivering a couple of stops, but also very noisy. Wide open it does go noticeably soft at the long end and in certain strong lighting conditions images do seem a bit harsh. However I've taken some of my best images with it and still have it (my son uses it a lot). While the build quality is solid, the finish is prone to scuffing and the white lettering has worn off in a couple of areas. Autofocus is pretty good - but can hunt a little in low light (and sometimes go a bit bonkers for no good reason)
The 100-400 is a little dated in comparison - it's a push pull zoom and the IS is not as advanced; however the lens is more consistently sharp through the zoom range - even wide open at the long end it is pretty good (some softness is inevitable, but it's not as pronounced). Autofocus is always bang on with it (providing you are set to the 3m minimum setting). Overall I found that the results are more predictable from it.
Aside from that the 100-400 is about 1/2 kg lighter - which when travelling is much appreciated. It also offers an extra 20mm of wide - which adds a surprising amount of flexibility (with big zooms I always think the wide end is often overlooked).
So waffle aside - my opinion is that that the 100-400 is the better lens in terms of flexibility and IQ, while the 120-400 is technically more advanced, but not quite as sharp (overall) as the Canon. Does that warrant double the money? Probably not, but there are many used examples of the canon around which can save a fair old chunk of cash.