Mar 262018
 

Berkshire Hathaway offered to sell its many year 30.8% stake in USG to privately held Knauf for $42 per share, representing a 25% premium over its closing price of $33.51 on March 23.

At Berkshire Hathaway’s 2017 annual meeting, Warren Buffett said:  “Berkshire has held equity in USG through two bankruptcies: asbestos and too much debt, because it was very cheap. Gypsum is a disappointing business.  Each time the business rebounds, management get too optimistic and they increase supply so that it exceeds demand. This was not a great idea.”

 Posted by at 8:26 am

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