USG Corp.

USG's stock rallies after buyout deal valued at $7 billion

USG Corp.'s stock ran up 3.6% in premarket trade Monday, after the building products company said it agreed to be acquired by Germany-based Gebr. Knauf AG in a deal valued at $7.0 billion. Under terms of the deal, USG shareholders will receive $44 for each USG share they own, consisting of $43.50 a share in cash and 50 cents a share in a special dividend. That represents a 6.2% premium to Friday's stock closing price of $41.44, and would give USG a market capitalization of about $6.2 billion. Warren Buffett's Berkshire Hathaway Inc. , which owns a 31% stake in USG, has agreed to vote its shares in favor of the deal, which is expected to close in early 2019. USG's stock has gained 7.5% year to date through Friday, while the S&P 500 has tacked on 3.9%.

• Jun. 11, 2018 at 8:44 a.m. ET
• by Tomi Kilgore

USG shares to be bought at $44 each by Gebr. Knauf, a 6.2% premium

USG shares to be bought at $44 each by Gebr. Knauf, a 6.2% premium

• Jun. 11, 2018 at 8:35 a.m. ET
• by Tomi Kilgore

USG agrees to be bought by Gebr. Knauf AG in a deal valued at $7 bln

USG agrees to be bought by Gebr. Knauf AG in a deal valued at $7 bln

• Jun. 11, 2018 at 8:34 a.m. ET
• by Tomi Kilgore

USG profit falls as buyout offer looms

USG Corp. USG reported its first-quarter earnings Wednesday. Here's what you need to know: EARNINGS: The building-materials company reported net income of $37 million, or 32 cents a share on an adjusted basis. Analysts polled by Thomson Reuters had expected adjusted earnings of 40 cents a share. REVENUE: Revenue increased 2.5% to $786 million, more than the $768.5 million analysts expected.

• Apr. 25, 2018 at 9:32 a.m. ET
• by MarketWatch.com

USG rejects Gebr. Knauf's unsolicited buyout bid

USG Corp. said Monday it has rejected the unsolicited buyout bid by Gerb. Knauf AG, saying it "substantially undervalues" the company and is not in the best interest of its shareholders. Gebr. Knauf has bid $42 a share in cash, which is 25% above Friday's closing price of $33.51, and would give USG a market capitalization of $5.92 billion. "Our Board is always looking for ways to deliver value to all of our shareholders, but Knauf's opportunistically timed proposal is wholly inadequate as it does not reflect USG's intrinsic value, including the significant opportunities ahead of us," said USG Non-Executive Chairman Steven Leer. Earlier, Warren Buffett's Berkshire Hathaway Inc. , USG's largest shareholder with a 30.8% stake, said it offered Gebr. Knauf an option to buy its USG stake. USG's stock soared 19% in premarket trade. It has tumbled 12.6% over the past three months through Friday, while the S&P 500 has slipped 3.4%.

• Mar. 26, 2018 at 9:02 a.m. ET
• by Tomi Kilgore

USG rejects unsolicited buyout bid by Gebr. Knauf

USG rejects unsolicited buyout bid by Gebr. Knauf

• Mar. 26, 2018 at 8:53 a.m. ET
• by Tomi Kilgore

USG shares jump 19% on news Berkshire offered stake to Knauf Entities for $42/share

Berkshire Hathaway Inc. [s:brkb] revealed that it proposed selling its stake in building materials group USG Corp. for $42 a share to a German-based rival, according to a Securities and Exchange Commission filing Monday. USG shares rose 19% in premarket trading. The filing from Berkshire Chairman and Chief Executive Officer Warren Buffett revealed that executives from privately-held Gebr. Knauf Verwaltungsgesellschaft KG have been in contact over the years with Berkshire about purchasing its stake. On March 15, Knauf made a non-binding proposal to buy 100% of outstanding shares of USG for $42 a share. Buffett and another Berkshire executive spoke to Knauf executives by telephone on March 23, and proposed that the company buy all of Berkshire's stake -- 30.8%, according to the filing. Knauf owns 10.5% of USG, according to FactSet. The price proposed was for no less than $42 per share, less the option price of $2 per share to be paid to Berkshire if a definitive agreement was made. Knauf has not yet responded to the March 23 offer, said the Berkshire filing.

• Mar. 26, 2018 at 6:55 a.m. ET
• by Barbara Kollmeyer

Berkshire says it discussed selling USG stake to Knauf Entities for $42/share

Berkshire says it discussed selling USG stake to Knauf Entities for $42/share

• Mar. 26, 2018 at 6:33 a.m. ET
• by Barbara Kollmeyer

USG started at outperform with $40 stock price target at Raymond James

• Mar. 13, 2018 at 8:09 a.m. ET
• by Tomi Kilgore

USG Corp. shares up 3% in Friday premarket trading

• Jan. 5, 2018 at 8:24 a.m. ET
• by Tonya Garcia

USG Corp. price target raised to $46 from $38 at J.P. Morgan

• Jan. 5, 2018 at 8:23 a.m. ET
• by Tonya Garcia

USG Corp. upgraded to overweight from neutral at J.P. Morgan

• Jan. 5, 2018 at 8:22 a.m. ET
• by Tonya Garcia

USG Corp. downgraded to hold from buy at SunTrust RH

• Oct. 2, 2017 at 7:24 a.m. ET
• by Tomi Kilgore