Carlisle, IKO bid for Icopal

HERLEV, Denmark (June 14)—A consortium involving Carlisle SynTec Inc. of Carlisle, Pa., and IKO Sales Ltd. of Toronto has trumped Trelleborg A.B.´s $466 million bid for Danish roofing products group Icopal A/S. Carlisle and IKO, major suppliers of roofing products in North America, and two industrial investors have put together a bid of $61.20 a share for Icopal, which claims to be the world´s leading supplier of roofing felts. The Carlisle-IKO bid is 11.8 percent higher than Trelleborg´s bid. Icopal Chairman Bent Pedersen said the consortium already has acquired more than half of Icopal´s publicly traded shares.