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USG asbestos settlement

Rumors of a USG asbestos settlement shook the markets last week, as an early Business Week report seemed to indicate that USG was giving up on hope that the Specter-Leahy bill would pass. It turns out that the $4 billion settlement includes a $3 billion contingent note that would be voided if the legislation passes. (Bloomberg, Jan. 30 (via Lattman). USG stock soared on the news, reflecting the difference between the expected value of the settlement and the Business Week report.



Isaac Gorodetski
Project Manager,
Center for Legal Policy at the
Manhattan Institute

Katherine Lazarski
Press Officer,
Manhattan Institute


Published by the Manhattan Institute

The Manhattan Insitute's Center for Legal Policy.