Gebr. Knauf KG

The New Zealand Commerce Commission granted clearance for Gebr. Knauf KG to merge with USG Corporation, subject to Knauf divesting USG's interest in USG Boral Building Products to ensure competition in the modular suspended ceiling systems market.

Gebr. Knauf KG acquired all outstanding shares of USG Corporation in a transaction valued at $7 billion. USG stockholders received $44.00 per share, including a $0.50 special dividend. The combined company will be a global building materials industry leader.

The Australian Competition and Consumer Commission conditionally approved Knauf's proposed acquisitions of USG Corporation and Armstrong World Industries, requiring Knauf to divest USG's interest in a joint venture with Boral.

Gebr. Knauf KG and USG Corporation have applied to the New Zealand Commerce Commission for clearance to merge. The proposed merger is also being assessed by competition authorities in Australia, USA, and Singapore.

USG Corp., a drywall producer, is proposed to merge with Gebr. Knauf KG for $7 billion. A Delaware court rejected an injunction to block the shareholder vote on the merger.

Gebr. Knauf KG will acquire all outstanding shares of USG Corporation in a transaction valued at approximately $7.0 billion. USG shareholders will receive $44.00 per share ($43.50 cash plus $0.50 special dividend). The combined company will be a global building materials leader. USG's headquarters will remain in Chicago.

Gebr. Knauf KG submitted a non-binding indication of interest to acquire 100% of the outstanding shares of USG Corporation. The offer is in cash, but the price is not disclosed.