Kingspan said to be among final bidders for Firestone Building Products
Irish building materials company Kingspan and Standard Industries were said on Monday to be among the final bidders competing for Firestone Building Products, a unit being sold by Japanese conglomerate Bridgestone.
Bloomberg cited sources as saying that Carlisle Cos has also been mulling an acquisition of Firestone and it was understood that a winner could be selected in the coming weeks.
According to Bloomberg, Firestone is expected to fetch around $2.5bn or more.
Laura McCaslin, a spokeswoman for Bridgestone Americas, told the news agency: "Bridgestone is exploring a number of opportunities to unlock greater value for our employees, customers and shareholders."
She said the company is looking for ways to "accelerate Bridgestone’s mobility solutions" but no final decisions have been made.