Weekly Real Estate News
Scottsdale, Arizona-based building products manufacturer Carlisle Companies Inc. (NYS: CSL) has made multiple unsolicited offers to acquire roofing products provider Owens Corning (NYSE: OC), according to a Wall Street Journal report sourced from unnamed “people familiar with the matter.”
Carlisle is primarily focused on the commercial property industry, while Owens Corning is more focused on residential real estate. Carlisle’s inquiries of the Toledo, Ohio-based Owens Corning occurred over the past few months, with proposals that mixed cash and stock.
As of this morning, Owens Corning had a market value of around $11 billion while Carlisle was valued at more than $15 billion. The Journal added that Carlisle is now mulling its options after its offers were rebuffed.
Neither company has publicly commented on the report.
