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Johns Manville Corp

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BUSINESS
October 20, 2000 | Reuters
Johns Manville Corp., a leading U.S. building materials manufacturer, said it would renegotiate its previous agreement to be sold to a group of investors for $3 billion after it reported disappointing quarterly earnings. Denver-based Manville said June 23 it had agreed to be bought out for $3 billion, or $15.63 a share, by an investor group led by buyout firm Hicks, Muse, Tate & Furst Inc. and a unit of Wall Street firm Bear Stearns Cos.
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BUSINESS
December 21, 2000 | ROBIN SIDEL, REUTERS
Johns Manville Corp., the building products maker that has been searching for a buyer for nearly two years, said Wednesday it would be acquired by Berkshire Hathaway Inc. for $1.92 billion. The deal comes less than two weeks after Johns Manville canceled a $2.3-billion takeover by buyout firm Hicks, Muse, Tate & Furst Inc. and Bear Stearns Cos.' merchant banking unit. The companies mutually agreed to abandon that deal, which valued Johns Manville at $15.
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BUSINESS
December 21, 2000 | ROBIN SIDEL, REUTERS
Johns Manville Corp., the building products maker that has been searching for a buyer for nearly two years, said Wednesday it would be acquired by Berkshire Hathaway Inc. for $1.92 billion. The deal comes less than two weeks after Johns Manville canceled a $2.3-billion takeover by buyout firm Hicks, Muse, Tate & Furst Inc. and Bear Stearns Cos.' merchant banking unit. The companies mutually agreed to abandon that deal, which valued Johns Manville at $15.
BUSINESS
December 9, 2000 | Reuters
Johns Manville Corp. said its previously announced merger pact with an investor group led by affiliates of Hicks, Muse, Tate & Furst Inc. has terminated. The companies agreed to break off the agreement because of weak industry conditions, an increasingly negative outlook for the economy and unfavorable financing markets, the Denver-based maker of building materials said.
BUSINESS
December 9, 2000 | Reuters
Johns Manville Corp. said its previously announced merger pact with an investor group led by affiliates of Hicks, Muse, Tate & Furst Inc. has terminated. The companies agreed to break off the agreement because of weak industry conditions, an increasingly negative outlook for the economy and unfavorable financing markets, the Denver-based maker of building materials said.
REAL ESTATE
August 25, 1991
Most homes built or remodeled between 1950 and 1978 contain asbestos in some form. It's important to know if the house where you live contains asbestos and what to do if it does. A free, consumer-oriented booklet titled "Asbestos in the Home" can be obtained from the Asbestos Victims Special Fund Trust, a nonprofit organization that was created in 1988 as part of the bankruptcy settlement of the asbestos maker Johns Manville Corp. For a copy of the booklet, call (800) 447-7590.
NEWS
December 10, 1986
The U.S. Environmental Protection Agency and the Johns-Manville Corp. agreed to an out-of-court $3-million settlement of the EPA's suit against the asbestos products maker, the agency said. The EPA, which sought almost $6 million for the clean-up of 22 New Hampshire asbestos sites and one Massachusetts site, agreed not to take further legal action against Manville in connection with those sites. It reserved the right to sue in connection with other sites.
BUSINESS
August 18, 2004 | From Bloomberg News
A federal bankruptcy judge approved a plan by Travelers Property Casualty Corp. to pay $500 million to settle claims against the insurer by people with asbestos-related diseases linked to asbestos maker Johns Manville Corp. More than 600,000 people sued Travelers claiming that it knew about the hazards of asbestos and failed to disclose them over the course of 30 years as Manville's primary insurer.
BUSINESS
November 27, 2000 | Associated Press
A lawsuit filed with little fanfare three years ago in Brooklyn, N.Y., has emerged as the latest flash point in the high-stakes legal battle between the tobacco industry and opponents who claim it conspired to conceal the dangers of smoking. Today, attorneys will converge in a Brooklyn courtroom to begin picking jurors for a two-month trial pitting a trust fund for sick asbestos workers against R.J. Reynolds, Brown & Williamson and other tobacco giants.
BUSINESS
January 26, 1999
* Cendant Corp. filed suit against accounting giant Ernst & Young, accusing it of negligently failing to detect bogus revenue that decimated the franchiser's stock and prompted a massive investor lawsuit. Cendant is seeking unspecified damages from Ernst & Young for money it lost in the accounting scandal at former CUC International Inc., one of the companies that merged to create Cendant in December 1997.
BUSINESS
October 20, 2000 | Reuters
Johns Manville Corp., a leading U.S. building materials manufacturer, said it would renegotiate its previous agreement to be sold to a group of investors for $3 billion after it reported disappointing quarterly earnings. Denver-based Manville said June 23 it had agreed to be bought out for $3 billion, or $15.63 a share, by an investor group led by buyout firm Hicks, Muse, Tate & Furst Inc. and a unit of Wall Street firm Bear Stearns Cos.
CALIFORNIA | LOCAL
July 22, 1988 | JANE FRITSCH, Times Staff Writer
Two brothers were convicted by a federal jury Thursday on charges that they organized an elaborate hoax in which they duped investors of $3 million with claims that they had found a way to transform common weeds into "Space Age" synthetic building materials. Walter Gutierrez, 58, and his brother Alex, 55, both of San Diego, were found guilty of 39 counts each of conspiracy to commit bank fraud, mail fraud and wire fraud, conspiracy to defraud the government, and filing false income-tax returns.
BUSINESS
November 5, 2002 | From Bloomberg News
Armstrong World Industries Inc. said Monday that it would create a billion-dollar trust to resolve thousands of asbestos-related lawsuits as part of its plan to emerge from bankruptcy. The flooring maker said it would fund the trust with cash and securities to settle claims by individuals who say asbestos in the company's products made them ill. In creating the trust, Armstrong follows the example of Johns Manville Corp., a building-products maker that in 1982 filed for Chapter 11 protection.
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