Knauf Is Buying Building Products Maker USG for About $7 Billion
Knauf has agreed to acquire American building products maker USG for approximately $7 billion, confirms CNBC News (June 11). The German building materials maker will pay $44 per USG share, which includes $43.50 per share in cash payable once the deal closes and a special dividend of 50 cents per share that would be paid after shareholders approve the transaction. "Berkshire Hathaway and its subsidiaries, which own about 31 percent of USG's outstanding stock, have agreed to vote in favor of the transaction," notes CNBC. Under terms of the deal, which is expected to close in the first quarter of 2019, USG will keep its headquarters in Chicago.
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