SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Carlisle Companies Incorporated (NYSE:CSL) today announced the termination of its previously announced agreement to acquire Draka Fileca SAS from Prysmian SpA. The agreement terminated due to regulatory approval not being received for the transaction prior to the expiration of the parties' agreed time period to satisfy closing conditions.
Chris Koch, Chairman and Chief Executive Officer, said "While we were enthusiastic about completing the transaction, unfortunately, the COVID-19 pandemic contributed to the delay in timely receiving the necessary regulatory approval. While disappointed, we remain focused on being the supplier of choice to our North American and European aerospace customers, and committed to expanding our industry leading product offerings and capabilities. Carlisle Interconnect Technologies (CIT) is a global leader of aerospace electrical wire and fiber optic cable technology and will continue to pursue strategic and synergistic M&A opportunities for our aerospace platform in accordance with Vision 2025."
About Carlisle Companies Incorporated
Carlisle Companies Incorporated is a diversified, global portfolio of niche brands and businesses that manufactures highly engineered products and solutions for its customers. Driven by our strategic plan, Vision 2025, Carlisle is committed to generating superior shareholder returns by combining an entrepreneurial management style under a center-led framework with a balanced approach to capital deployment, all with a culture of responsible stewardship and continuous improvement as embodied in the Carlisle Operating System. Carlisle’s markets include: commercial roofing, specialty polyurethane, architectural metal, aerospace, medical technologies, defense, transportation, industrial, protective coating, auto refinishing, agriculture, and construction. Carlisle’s worldwide team of employees generated $4.8 billion in revenues in 2019. Learn more about Carlisle at www.carlisle.com.