Kingspan rules out new offer for Nordic Waterproofing after €230m takeover bid rejected

‘We made our offer...and that’s our offer,’ Gene Murtagh says after board of Swedish firm recommends shareholders vote against bid

Gene Murtagh, Kingspan chief executive: ‘Each time we’ve made an offer, stuck to our price and that will be the very same in this particular case.’ Picture: Maura Hickey

Kingspan’s chief executive has ruled out making an increased offer for Nordic Waterproofing, after its takeover bid was rejected by the board of the Swedish building materials firm.

Gene Murtagh said Kingspan’s offer of 160 Swedish kroner (€13.85) per share for the company – giving a total purchase price of around €230 million – “is our offer” and added the Cavan-based business would not move from the price it had tabled.

In early February, the ...