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
Image: Pexels
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.
Keep reading
Bill targets flexibility in youth workforce development funds
Ohio Congressman Dave Taylor has introduced a bill that would potentially impact young people training to become plumbers and HVAC techs
Lennox CEO, CFO on consumers, residential volumes, and tariffs
The company this week kicked off HVAC manufacturers' second-quarter earnings reports, with execs pulling the curtain back on several trends
Our most-read stories of February
The new administration's moves, replacements, and a look at the HVAC consumer