May 1, 2018 / 4:00 PM / 19 days ago

USG agrees to enter sale talks to Knauf

May 1 (Reuters) - The building products company USG Corp on Tuesday said it has agreed to open talks to possibly sell itself to Gebr Knauf AG after previously rejecting an unsolicited $5.9 billion takeover bid from the German company.

USG changed its mind after Berkshire Hathaway Inc, its largest shareholder with a 31 percent stake, signaled it planned to vote against four of its board nominees.

Knauf’s offer had valued USG at $42 per share. In late morning trading, USG shares were up $1.49, or 3.7 percent, at $41.72. (Reporting by Jonathan Stempel in New York Editing by Bill Trott)

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