Holding company to acquire roofing membrane manufacturer Johns Manville

DENVER (Jan. 8)—Denver-based building products maker Johns Manville Corp. and Omaha, Neb.-based holding company Berkshire Hathaway Inc. each have approved a merger agreement in which Berkshire will purchase outstanding shares of Johns Manville for $13 per share. The Dec. 19 agreement led to a Dec. 29 tender offer for the shares by J Acquisition Corp., a subsidiary set up by Berkshire to complete the deal. One estimated value of the transaction is $1.72 billion, based on the tender offer filing with the Securities and Exchange Commission. Johns Manville, which makes roofing products from a variety of materialsÏincluding EPDM, thermoplastic olefin and styrene-butadiene-styrene modified bitumenÏwill remain headquartered in Denver and will operate as a wholly owned subsidiary of Berkshire.