Kingspan failed to acquire the Insulation and Flexible Foams divisions of Recticel for €700m.

Kingspan Group, the Irish insulation company, failed to acquire the insulation and flexible foams units of Belgium’s Recticel, manufacturer and transformer of polyurethane chemicals, for €700m ($790m). Recticel rejected the €700m ($779m) bid for its two main businesses but said it was open to a takeover at the right price after it disclosed that Kingspan had approached it with a possible offer for the entire group. Kingspan ended discussions with Recticel over a proposal for its Belgian rival's foam and insulation units and has no plans to reengage.