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Kingspan Group PLC - Kingscourt, Ireland-based building materials supplier - Confirms it held ‘recent and informal discussions’ on a potential takeover offer for US peer Carlisle Cos Inc. However, Kingspan says there is ‘no active engagement’ at present. Kingspan says it has ‘admired’ Scottsdale, Arizona-based Carlisle for many years, ‘recognising the clear strategic fit’.
Bloomberg on Sunday reported that Kingspan had proposed a tie-up with Carlisle that would create a company with a market value of $30 billion. However, this was rejected by Carlisle.
https://www.bloomberg.com/news/articles/2023-09-10/kingspan-said-to-make-rebuffed-proposal-for-tie-up-with-carlisle#xj4y7vzkg
Kingspan adds on Wednesday: ‘The North American roofing space remains a key area of interest for Kingspan.’
Current stock price: €68.80, down 2.0% in Dubline on Wednesday
12-month change: up 23%
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