USG Corp. has rejected a buyout offer from Germany’s Gebr. Knauf KG, saying the $42-a-share proposal “substantially undervalues” the building-materials company. Knauf, which owns about a 10.5% stake in USG, had offered to buy it for $42 a share on March 15, USG said Monday. That was a 22% premium over the March 14 closing price and about a 25% premium over Friday’s closing price of $33.51.

Source: Wall Street Journal March 26, 2018 11:31 UTC