LafargeHolcim Is in Talks to Buy Firestone Building Products
LafargeHolcim Ltd., the world’s largest maker of construction materials, is in advanced talks to acquire Bridgestone Corp.’s Firestone Building Products unit, people with knowledge of the matter said.
The Swiss company could reach an agreement as soon as this week, the people said, asking not to be identified because the information is private. Negotiations could still be delayed or fall apart, according to the people.
Firestone Building Products was expected to fetch more than $2.5 billion, Bloomberg News reported previously. The Bridgestone unit, part of the Japanese industrial conglomerate’s North American division, makes roofing systems for commercial markets.
A representative for LafargeHolcim declined to comment. A representative for Bridgestone said the firm is exploring opportunities to unlock value for employees, customers and shareholders and to support the Firestone unit’s long-term growth plan.
Kingspan Group Plc and Standard Industries Inc. were among final suitors for Firestone Building Products before dropping out of the bidding, people with knowledge of the matter have said.
— With assistance by Leonard Kehnscherper
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