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Berkshire-Backed USG Rejects $5.9 Billion Takeover by Knauf

  • Offer for Sheetrock maker signals confidence in U.S. housing
  • Buffett’s company offered options to German wallboard company
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Knauf Entities Makes Offer For USG

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USG Corp. rejected a $5.9 billion acquisition offer by Germany’s Knauf to acquire the wallboard maker rescued by Warren Buffett’s Berkshire Hathaway Inc. when the U.S. housing market imploded a decade ago.

Knauf, USG’s second-largest shareholder, on March 15 offered to pay $42 a share for USG, according to a regulatory filing by Berkshire on Monday.