USG: 4Q Earnings Snapshot
CHICAGO (AP) _ USG Corp. (USG) on Thursday reported fourth-quarter net income of $42 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Chicago-based company said it had net income of 30 cents. Earnings, adjusted for one-time gains and costs, came to 26 cents per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.
USG: 3Q Earnings Snapshot
CHICAGO (AP) _ USG Corp. (USG) on Thursday reported third-quarter net income of $59 million.
The Chicago-based company said it had profit of 41 cents per share. Earnings, adjusted for costs related to mergers and acquisitions and non-recurring costs, came to 45 cents per share.
The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.
USG: 2Q Earnings Snapshot
CHICAGO (AP) _ USG Corp. (USG) on Wednesday reported second-quarter net income of $58 million.
On a per-share basis, the Chicago-based company said it had net income of 41 cents. Earnings, adjusted for one-time gains and costs, were 50 cents per share.
The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 61 cents per share.
Sempra Energy and Boston Scientific jump; PG&E skids
NEW YORK (AP) — Stocks that moved substantially or traded heavily Monday:
USG Corp., up $1.60 to $43.04
The building materials company agreed to be bought by Germany's Knauf for $7 billion, or $44 a share.
Envision Healthcare Corp., up $1.01 to $44.65
The physician services and outpatient surgery center company accepted an offer from private equity company KKR worth almost $10 billion.
CHICAGO (AP) — German building materials maker Knauf is buying American building products maker USG in an approximately $7 billion deal.
Gebr. Knauf KG will pay $44 per USG share. That includes $43.50 per share in cash payable once the transaction closes and a special dividend of 50 cents per share that would be paid after shareholders approve the deal.
Berkshire Hathaway and its subsidiaries, which own about 31 percent of USG's outstanding stock, have agreed to vote in favor of the transaction.
OMAHA, Neb. (AP) — Investor Warren Buffett's company plans to vote against USG Corp.'s four board nominees in another signal that Berkshire Hathaway may support Knauf's $5.9 billion bid to buy USG.
Buffett's assistant Debbie Bosanek said Thursday that Berkshire will vote against the directors nominated by USG.
Berkshire owns 31 percent of USG's stock and is the biggest shareholder in the Chicago construction materials company.
USG rejects $5.9B takeover offer from rival Knauf
OMAHA, Neb. (AP) — USG Corp. says a $5.9 billion takeover offer from rival building products manufacturer Knauf is inadequate.
USG said Monday the German company's offer significantly undervalues the Chicago construction materials company. USG shares jumped 19 percent to $39.92.
USG Chairman Steven Leer says the company is confident that the strategy it outlined for investors earlier this month will deliver more to shareholders than Knauf's offer would.
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