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Joele Frank, Wilkinson Brimmer Katcher supports Germany’s Knauf in its proxy fight with building products competitor USG Corp. of Chicago.
Knauf, which has made a $5.9B bid for USG, is urging shareholders to vote against four USG director nominees at the May 9 annual meeting.
USG, which relies on Sard Verbinnen & Co., said Knauf’s bid is “wholly inadequate, opportunistic and does not reflect the intrinsic value of the company.”
Knauf, which owns about 10 percent of USG, knocks it for failing to engage in serious negotiations or show “substantive evidence to support its claim that the company is worth more than $42 per-share.”
The Germans have a key ally in their fight. Warren Buffett’s Berkshire Hathaway, owner of 31 percent of USG, plans to vote against the four directors up for election.
Joele Frank, Ed Trissel and Annabelle Rinehart represent Knauf. SV&C’s Jim Barron and Pam Greene work the media for USG.
FGS Global represents Copart as the online vehicle auction company acquires auto marketplace and data services business ACV, a Joele Frank client, in a deal valued at $1.9B.
BGR Group represents Noble Supply and Logistics as it files for Chapter 11 due to a change in its weapons support contract with the Defense Logistics Agency.
C Street Advisory Group is handling the Chapter 11 filing of LIV Golf following the move by Saudi Arabia’s Public Investment Fund to pull the financial plug on the League. (Updated)
Teneo handles Bamboo Insurance Services as the Midvale, UT-based marketer of homeowner policies files a Form S-1 statement with the SEC for an initial public offering.
FTI Consulting handles West Marine as the nation’s leading retailer of marine parts and accessories for boating, fishing and sailing enthusiasts emerges from Chapter 11 bankruptcy.
