French glassmaker and building materials giant Saint-Gobain is poised to announce a cash bid for British insulation and roofing distributor SIG Plc in a deal of more than UK 400 million (US$ 657 milli…
French glassmaker and building materials giant Saint-Gobain is poised to announce a cash bid for British insulation and roofing distributor SIG Plc in a deal of more than UK 400 million (US$ 657 million), according to a recent report. The report said that Saint-Gobain executives had already held talks with SIG“s management and that a formal bid was likely to be accepted by SIG management. SIG, formerly called Sheffield Insulation Group, is Europe“s largest distributor of insulation and roofing materials, and has been the subject of bid speculation ever since SIG“s management buyout failure in October 1998.