Kingspan may appeal takeover decision

Kingspan is seeking legal advice following yesterday’s decision by the Competition Authority to block its acquisition of insulation firm Xtratherm.

The company plans to study the authority’s written documentation and take advice from lawyers before deciding on whether or not to appeal the decision to the High Court.

Kingspan says it is “disappointed by the authority’s decision, and believes that it is not supported by the weight of evidence produced by Kingspan and Xtratherm in their arguments and submissions to the authority”.