ACHRNEWS

Johns Manville Acquired by Berkshire Hathaway

January 5, 2001
OMAHA, NE, and DENVER, CO — Berkshire Hathaway, Inc. (BH) and Johns Manville (JM) have approved and entered into a definitive merger agreement, pursuant to which BH will acquire all of the outstanding shares of JM for $13.00 per share in cash.

The board of directors of JM has unanimously approved the merger agreement and recommends that shareholders tender their shares into the tender offer. The Manville Personal Injury Settlement Trust (the trust), which owns approximately 76% of the outstanding common stock of Johns Manville, has agreed to tender its shares into the offer.

The tender offer is subject to receiving governmental approvals, court approval of the trust’s tender, and other customary conditions. Upon successful completion of the tender offer, the agreement calls for a merger that says any remaining shareholders will receive cash in the same amount as paid in the tender offer.

Publication date: 01/08/2001