Insulation and builders materials group Kingspan today confirmed media reports that it had recent, informal discussions about a tie-up with rival Carlisle Companies, but added that there was currently no active engagement between the companies.
Bloomberg News reported over the weekend that Arizona-based Carlisle had rebuffed an informal approach by Kingspan to combine the companies.
But it added that Carlisle signalled it would be open to at least reviewing a more attractive offer.
Carlisle did not respond to a request for comment on the report.
"Kingspan has admired Carlisle for many years and, recognising the clear strategic fit, had recent and informal discussions on a potential transaction," Kingspan said in the statement.
"At present, there is no active engagement," it said. "The North American roofing space remains a key area of interest for Kingspan."
As of last Friday, the market capitalisation of Kingspan Group and Carlisle was €13.4 billion ($14.34 billion) and $12.55 billion respectively.
Share in the company were lower in Dublin trade again today.
