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Carlisle Makes Offers for Owens Corning; Maersk Upgrades Guidance; Steelmakers Vie for Power By Mark R. Long | WSJ Logistics Report
Building-products maker Carlisle Cos. has made more than one unsolicited offer to acquire roofing maker Owens Corning in what would be a well-over $10 billion deal , according to people familiar with the matter. The WSJ's Lauren Thomas reports that Owens Corning so far hasn't engaged substantially with Scottsdale, Ariz.-based Carlisle, which is contemplating its next move.
Carlisle manufactures and supplies building products used in both commercial and residential settings, while Toledo, Ohio-based Owens Corning-known for its pink panther mascot-makes everything from insulation to roofing materials. Carlisle is more focused on the commercial industry, while Owens Corning is more focused on the residential industry.
Dealmaking across the industry has been red hot, with much of the activity fueled by rapidly increasing infrastructure needs , including for data centers and the utilities needed to power them. Many companies also are looking to position themselves for an eventual rebound in the residential housing market.
Martin Marietta Materials struck a deal to combine with limestone supplier
Lhoist North America in a transaction valued at $13.5 billion, including debt. (WSJ) CONTENT FROM: PENSKE Gain Intel. Gain Ground with Penske.
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Quotable Ocean Shipping
A.P. Moller-Maersk said it expects volumes in the container market to expand by about 4% globally this year, at the higher end of its previous forecast for 2%-4% growth. It also raised its full-year guidance , signaling that strong demand-particularly in East Asia-and rising freight rates are helping it navigate disruptions from the Iran war.
The Danish container carrier said it now expects full-year underlying Ebitda to range from $8 billion to $10 billion, up from its previous forecast of $4.5 billion-$7 billion. It also forecast underlying earnings before interest and taxes of $2 billion to $4 billion, and free cash outflow of at least $1.5 billion, down from an estimate of at least $3 billion.
It isn't clear to what extent strong freight rates reflect genuinely greater demand, or a pull-forward ahead of further surcharges or potential tariff hikes, Bernstein analyst Alex Irving wrote in a note to clients.
Commodities
Steelmakers are warning of a high-stakes competition with their data-center customers for a commodity they both require: electricity . The Journal's Bob Tita writes that data centers' insatiable demand for electricity is driving up power costs for steel companies by tens of millions of dollars a year and threatening the companies' operations, according to the Steel Manufacturers Association.
By 2030, data centers could use 9.5% to 15.3% of the electricity in the U.S., according to the Energy Department's Lawrence Berkeley National Laboratory. Steel-industry executives warn that sporadic production outages are becoming more likely.
Meanwhile, the data-center industry needs steel, to the tune of about 1 million tons of steel a year, valued at about $1.4 billion, according to analysts' estimates.
The European Union will limit tariff-free steel imports
by 47% to 18.3 million metric tons starting Wednesday, with imports above that quota to face a higher 50% levy in 26 categories of products. (WSJ) U.S. Steel plans to invest $475 million in a new quenching and tempering line at its Fairfield Tubular Operations in Alabama, which will add capacity for heat-treated products. (Business Alabama) Number of the Day In Other News The U.S. and Iran agreed to end days of back-and-forth fighting around the Strait of Hormuz and resume peace talks . Traffic at the strategic waterway slowed to just 22 vessels
on Sunday. (WSJ) China's manufacturing activity expanded in June
after remaining flat last month. (WSJ) China imposed new trade restrictions
on dozens of Japanese companies and research institutes to prevent military use. (WSJ) Adani Ports & Special Economic Zone has agreed to sell 49%
of one of its Indian ports to Mediterranean Shipping Co. for $1.40 billion. (WSJ) France's parliament passed legislation imposing fines on ultrafast fashion retailers , aiming to curb ecological harm and rein in Chinese e-commerce giants such as Shein and Temu. (WSJ) Rocket Lab agreed to acquire
Iridium Communications for $8 billion, gaining a satellite fleet and wireless resources to compete with SpaceX. (WSJ) The South Korean government said Samsung Electronics and SK Hynix plan to invest over $500 billion
in a new chip-making hub. (WSJ) Airbus will get a $3.42 billion loan
from the European Investment Bank as EU officials seek to fend off mounting technological competition from the U.S. and China. (WSJ) The Agriculture Transportation Coalition said it wants U.S. maritime regulators to tighten rules requiring ocean carriers to notify customers of new rates
and fees. (Journal of Commerce) CMA CGM and Oman's Asyad Group signed an agreement to develop and operate a new, $400 million, multipurpose logistics terminal
in Sohar. (Splash247) Worldwide air-cargo demand as measured in metric-ton kilometers rose 6% year-over-year
in May, according to IATA. (Air Cargo News) Lawmakers cut provisions from the Ships for America Act
ahead of a possible vote in the U.S. House, including the creation of a fleet of up to 250 U.S.-flagged ships and penalties for Chinese ships. (TradeWinds) About Us
Mark R. Long is editor of WSJ Logistics Report. Reach him at [mark.long@wsj.com]. Follow the WSJ Logistics Report team on LinkedIn: Mark R. Long , Liz Young and Paul Berger .
This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
June 30, 2026 07:11 ET (11:11 GMT)
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