USG Seeks To Acquire Paper Mill for $18M

Law360, New York (March 16, 2006, 12:00 AM EST) -- Hoping to gain a competitive edge in the construction material industry, USG Corp. has asked a bankruptcy court to allow it to fund the $18 million purchase of a Michigan paper mill through a new subsidiary.

USG, a Chicago-based building materials manufacturer, believes the deal would bring in substantially more than its $18 million asking price, according to a court filing Monday.

Through its subsidiary Otsego Paper Inc., USG decided Friday to purchase the mill in Otsego, Mich., from Menasha Corp.

Acquiring the mill will give...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.