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News Warren Buffett to vote against USG

Warren Buffett to vote against USG

Written by Global Gypsum staff
13 April 2018
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US: Warren Buffett, the chief executive officer Berkshire Hathaway, plans to oppose the election of four board nominees at USG. The move places pressure on USG to accept a hostile takeover bid for US$6.6bn by Germany’s Knauf, according to the Financial Times newspaper. “Berkshire’s present intention is to vote against the four directors proposed by management,” said Debbie Bosanek, an assistant to Buffett. The talks between USG and Knauf were enabled in March 2018 by Berkshire Hathaway offering to sell its 31% stake in USG to Knauf. The German company holds a 10.5% stake in USG.

Published in Global Gypsum News
Tagged under
  • US
  • USG
  • Knauf
  • shares
  • board
  • shareholders
  • Berkshire Hathaway

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