Owens Corning hit with unsolicited acquisition offers, WSJ says
Carlisle — which owns several roofing material brands, including Versico and WeatherBond — has made the offers in recent months
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Building-products giant Carlisle has made at least two unsolicited offers to acquire Owens Corning in what would be a minimum-$10 billion deal, the Wall Street Journal reported Monday, citing unnamed sources.
What’s happening: Carlisle — which owns several roofing material brands, including Versico and WeatherBond — has made the offers in recent months, according to the Journal.
- Yes, but: Owens Corning “hasn’t engaged substantially,” it noted, and Carlisle is “now contemplating its next move.”
The big picture: The company’s interest in doing a deal comes as M&A in the building-products-supplier sector has heated up, with Brad Jacobs’s QXO recently dishing out $17 billion for insulation company TopBuild.
What we’re watching: “Carlisle is more focused on the commercial industry, while Owens Corning is more focused on the residential industry,” the Journal wrote.
- “By combining the two businesses, Carlisle could be looking to offset ups and downs in the respective sectors,” it added.
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