USG Acquired by Knauf
USG agreed to a $7 billion buyout by Germany-based Knauf after Warren Buffett's Berkshire Hathaway threw its support behind a shareholder uprising. Berkshire is USG's biggest shareholder, with a stake of 31%, and had said earlier this year it would vote against USG's four director nominees after the company rebuffed an earlier Knauf bid. Knauf is USG's second-largest shareholder. The deal, announced Monday, values Berkshire's stake at $1.9 billion. The transaction is expected to close in early 2019. USG will continue to be headquartered in Chicago after the merger.
For more information, visit www.usg.com.