Kingspan acquisition target strongly rebuffs takeover offer

Company is valued at over €13.6bn

Nordic Waterproofing said the offer was unfair and the acquisition would have significant effects 'on employment and on the locations where the company operates'.

Irish building products giant Kingspan has suffered a setback after its acquisition target roofing company Nordic Waterproofing strongly rebuffed the offer.

The Sweden-based company, which sells into Norway and Finland and other countries, said in a strongly worded statement to stock markets that Kingspan's bid to buy out the shares it does not already own significantly undervalues its operations.