said. Owens Corning could fetch $48 a share in a leveraged buyout for a premium of 25 percent, Royal Bank of Canada said. If housing starts to accelerate, Owens Corning will make a lot more money, Bob Wetenhall, a New York-based analyst at RBC, said in a phone interview. It should generate lots of free cash flow , which could be used to pay down debt in an LBO. This could work really well for someone. Matt Schroder, a spokesman for Owens Corning, said the Toledo, Ohio-based company doesnt comment on speculation when asked about the possibility of a sale or breakup.
US construction spending increases 0.6 percent in August to highest level in more than 4 years
Construction spending in July was revised to show a 1.4 percent rise instead of the previously reported 0.6 percent gain. The report was originally scheduled for release on October 1 but was delayed after the federal government was partially shut down because of a fight over the budget. The 16-day shutdown ended last Wednesday. Construction spending in August was lifted by a 0.4 percent rise in public construction http://www.ihireconstruction.com projects. That was the fourth consecutive month of gains and came even as federal government spending on construction projects tumbled. There was also a boost from spending on private construction projects, which increased 0.7 percent to its highest level since January 2009.
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August construction spending rises 0.6%
Above, a worker carries scaffolding poles on a home site in Virginia in August. (Paul J. Richards/AFP/Getty Images / August 7, 2013) Also By Ricardo Lopez October 22, 2013, 8:34 a.m. Construction spending in August rose to the highest level in more than four years, growing 0.6% over July, the Commerce Department reported Tuesday. Led by private residential building, construction spending rose toa seasonally adjusted annual rate of $915 billion, growing 7.1% over the previous August, the Commerce Department reported Tuesday. The growth in the construction industry is no surprise given the strength of the housing recovery over the last year. Photos: http://www.reuters.com/article/2013/10/22/us-construction-spending-idUSBRE99L0PV20131022 California’s top livable cities Tuesday’s report showed that the bulk of spending was in private construction, which rose 0.7% in August, reaching an annual rate of $640.5 billion. Public construction, by comparison, rose 0.4% and reached an annual rate of $274.5 billion.
The July gain was revised to show an increase that was more than double the initial estimate. More business news Tom Hamburger and Jia Lynn Yang Some lobbyists say donations will be reexamined after lawmakers ignored pleas from corporate America Construction spending reaches highest level in more than 4 years Associated Press Spending on construction projects rose at a solid pace in August, helped by further gains in residential building. More business news Total construction rose to a seasonally adjusted annual rate of $916.1 billion, the fastest pace since April 2009. The strength in construction should help the overall economy, which has been struggling this year with the adverse effects of government tax increases and spending reductions. The August gain reflected a solid rise in housing activity, which was up 1.2 percent. The housing increase included a 1.6 percent rise in single-family construction and a 3.2 percent increase in the smaller apartment sector. Non-residential construction rose a her latest blog slight 0.1 percent in August after a much stronger 3.7 percent July advance.