Buffett's Berkshire Hathaway Now Biggest USG Shareholder

Law360, New York (January 2, 2014, 6:12 PM EST) -- Warren Buffett’s Berkshire Hathaway Inc. became the largest shareholder in USG Corp. after the building products company announced plans to redeem $243.8 million in convertible notes it purchased during the financial crisis, according to a Thursday U.S. Securities and Exchange Commission filing.

Through three of its subsidiaries, Berkshire bumped its common stock ownership up from roughly 21.38 million shares to 43.38 million shares, causing its ownership stake in the company to reach 30.5 percent, according to the filing. The company said the conversion created more value...
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