Carlisle Jumps Most Since 2019 After Rebuffing Kingspan Approach

Carlisle Cos. jumped the most in more than four years on news the company had rebuffed an informal approach from Kingspan Group Plc to create a building materials giant with a combined market value of almost $30 billion.

Bloomberg News reported on Sunday that Irish insulation and construction products company Kingspan proposed a tie-up with Carlisle in recent months. Carlisle rejected the pitch but signaled it would be open to at least reviewing a more attractive offer, according to people with knowledge of the matter.

Carlisle’s shares rose as much as 11% on Monday — the biggest intraday jump since ...