But Irish materials firm says there is “no active engagement” presently
Kingspan has admitted it has had “recent and informal” discussions with US giant Carlisle about a “transaction” with the firm, in response to media reports of a takeover bid.
The Irish materials giant, according to Bloomberg and other outlets, had its approach to combine the two firms rebuffed by $6.6bn-turnover Carlisle recently.
Kingspan today issued a statement to the stock market confirming discussions had taken place between the two materials giants.
It said: “Kingspan Group notes the recent speculation around Kingspan and Carlisle Companies. Kingspan has admired Carlisle for many years and, recognising the clear strategic fit, had recent and informal discussions on a potential transaction.
“At present, there is no active engagement.”
Kingspan made it clear that the North American roofing space “remains a key area of interest” for the firm.
Combining the two businesses would create a giant firm with a combined turnover of around £12bn.
In its interim results last month, Kingspan reported income once again topped €4bn (£3.4bn)in the first half, despite a slight decline on last year’s record interims.
The Irish firm said turnover in the six months to June was down 2% to €4.1bn (£3.5bn) compared with the first half of 2022. Pre-tax profit was edged up 1% to €393m (£336m) from €388m (£331m).
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