Insulation Deal Crumbles Under Pressure From UK Watchdog
Law360 (May 21, 2020, 2:43 PM EDT) -- Irish construction supply giant Kingspan Group has abandoned plans to snap up a rival's insulation business under mounting scrutiny from British competition authorities, the watchdog revealed Thursday.
The Competition and Markets Authority was in the midst of an in-depth review of the £37.5 million ($45.8 million) tie-up between Kingspan and SIG Building Solutions, sparked by concern over the pair's prominence in the British insulation business.
But that investigation has been closed with the news that the deal has been abandoned, the competition enforcer said.
The merger fell apart after Kingspan and SIG were unable to come to terms to extend the...
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