German manufacturer of building materials Knauf buys a competing USG for $ 7 billion

As part of the deal, Warren Buffett will completely leave USG

It is reported that the company Berkshire Hathaway and its units, which control 30.8% of the shares of the US manufacturer of building materials USG, will sell their entire package, which belongs to them for 18 years.

If Berkshire was the largest USG shareholder, then Knauf ranked second among all USG shareholders - it owned about 10% of the manufacturer.

USG shareholders will be paid $ 43.5 per share, as well as a special dividend of $ 0.5 per share. Earlier, Knauf offered to pay $ 42 for each share of USG, but the company's board of directors rejected the offer. It was Berkshire who pressed the German company to improve its offer.

It is noted that the USG headquarters will remain in Chicago

USG is the largest producer of plasterboard sheets and dry plaster in the United States. The company owns such brands as Sheetrock, Fiberock, Securock.

German Knauf, in turn, is considered the leading producer of building materials in the world. She owns 120 plants in more than 40 countries.

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