Companies
Kingspan shares fall after board of Nordic Weatherproofing rejects €230m takeover offer
The Swedish materials company said the takeover offer made by Kingspan last October represented a discount on the group’s current share price
Kingspan, the insulation and materials giant, has hit a roadblock in its bid to acquire full control of Nordic Waterproofing, a manufacturer of waterproofing materials for buildings and infrastructure, after the Swedish company’s board recommended shareholders vote against the deal.
In October last year, Kingspan tabled a €230 million offer to acquire the remaining 70 per cent stake in Nordic Waterproofing after its minority shareholding in the business crossed the 30 per cent mark. The ...