Kingspan's €700m deal bid hits snag
Kingspan's offer of €700m (£605m) for two divisions of Recticel is "lacking critical information items", the Belgian group has said.
Cavan-based Kingspan earlier this week made a bid for Recticel's insulation and flexible foams business.
Kingspan, which employs 400 people in Portadown, said it has already entered into an exclusive back-to-back agreement with a third party who will buy Recticel's flexible foams businesses, should the initial deal go ahead.
However, yesterday Recticel said it was seeking information and clarification on a number of items, including clarification on anti-trust risks associated with the potential deal.
Please log in or register with belfasttelegraph.co.uk for free access to this article.