Knauf Confirms Proposal Regarding Potential USG Transaction

IPHOFEN, Germany--()--Gebr. Knauf KG (“Knauf”) today confirmed in a 13D filing amendment that it submitted a proposal on March 15, 2018 for a potential transaction with USG Corporation (NYSE:USG). Knauf’s 13D filing amendment follows today’s Berkshire Hathaway 13D filing amendment regarding Knauf’s March 15, 2018 proposal to USG and Berskhire Hathaway’s proposal to sell its shares of USG to Knauf should a potential transaction between Knauf and USG occur.

Knauf is awaiting USG’s response to the March 15, 2018 proposal. The details of Knauf’s March 15, 2018 proposal to USG are contained in Knauf’s filing today on form 13D/A. Knauf is in receipt of Berkshire Hathaway’s proposal and will respond in due course.

Morgan Stanley is serving as financial advisor to Knauf, and Baker McKenzie is serving as legal counsel.

About Knauf

Gebr. Knauf KG is the ultimate parent company of the German based Knauf Group. Knauf is a leading manufacturer of building materials operating more than 220 factories worldwide. In 2017, Knauf achieved a global turnover of approximately 7 billion Euros and employed more than 27,000 people.

Contacts

Joele Frank, Wilkinson Brimmer Katcher
Joele Frank / Ed Trissel
212-355-4449