News on the M&A front in the building materials sector comes via CNBC:

German building materials maker Knauf is buying American building products maker USG in an approximately $7 billion deal.

Gebr. Knauf KG will pay $44 per USG share. That includes $43.50 per share in cash payable once the transaction closes and a special dividend of 50 cents per share that would be paid after shareholders approve the deal.

Berkshire Hathaway and its subsidiaries, which own about 31 percent of USG's outstanding stock, have agreed to vote in favor of the transaction.

USG will keep its headquarters in Chicago.

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