Kingspan Said to Make Rebuffed Proposal for Tie-Up With Carlisle
- Irish building materials firm made approach in recent months
- Companies would have combined market cap of almost $30 billion
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Carlisle Cos. jumped the most in more than four years on news the company had rebuffed an informal approach from Kingspan Group Plc to create a building materials giant with a combined market value of almost $30 billion.
Bloomberg News reported on Sunday that Irish insulation and construction products company Kingspan proposed a tie-up with Carlisle in recent months. Carlisle rejected the pitch but signaled it would be open to at least reviewing a more attractive offer, according to people with knowledge of the matter.