BRUSSELS (Reuters) -EU antitrust regulators on Tuesday accused Irish insulation maker Kingspan of providing incorrect and misleading information during its proposed acquisition of Slovenian rival Trimo in 2021, putting it at risk of a hefty fine. The European Commission, which has in recent years handed out hefty fines to companies for similar offences, said it had sent a statement of objections, in effect a charge sheet, setting out its concerns to Kingspan. "The Commission takes the preliminary view that Kingspan intentionally, or negligently, provided incorrect, incomplete and misleading information with respect to basic facts related to Kingspan's internal organisation," the EU competition enforcer said in a statement.
Kingspan had proposed a deal in recent months, which Scottsdale, Arizona-based Carlisle rejected, but Carlisle signaled it would be open to at least reviewing a more attractive offer, the report said, citing people familiar with the matter. Kingspan is not working on a formal takeover bid currently, the report said, adding that it could trigger fresh interest from the Irish company as well as other building materials rivals if Carlisle did explore a sale.