OTHER NEWS - May 17, 1995
<i> Times Staff and Wire Reports</i>
National Gypsum Agrees to $1.2-Billion Takeover: In a surprise move, the Charlotte, N.C.-based wallboard maker agreed to be acquired by Delcor Inc. after resisting takeover overtures for six months. While National Gypsum Co. said the $54-a-share merger agreement is definitive, under the deal it could solicit other offers through June 30. Industry analysts had long valued the debt-free company at $50 to $55 a share. The bid is the third by Delcor, a unit of Golden Eagle Industries Inc., whose chairman once sat on National Gypsum’s board until being ousted because of the takeover bids. News of the agreement boosted National Gypsum stock $2.125 to $51.875 in late trading on Nasdaq.
