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Carlisle Companies Announces the Termination of its Acquisition of Draka Fileca

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

Benzinga · -

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."