Owens-Corning Shares Surge on Reported Acquisition Interest from Carlisle

Deep News06-30

Shares of Owens-Corning experienced a significant surge during Monday's afternoon trading session, following reports that Carlisle Companies had submitted a non-binding acquisition proposal to the building materials manufacturer. The news propelled Owens-Corning shares to gain over 14%, while shares of Carlisle declined by more than 5%.

The reports, citing sources familiar with the matter, indicated that while Owens-Corning has not yet engaged in substantive discussions with Carlisle, Carlisle is considering its next steps. Owens-Corning shares have risen nearly 40% year-to-date, and today's gains are on track to mark the stock's best single-day performance since 2009.

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