BPB
ORG
BPB
The normally staid industry of plasterboard manufacturing was thrown into turmoil when Compagnie de Saint-Gobain of France bid $6.7 billion for BPB of Britain. After BPB mounted a defense that included reporting what it called ''stunning'' first-half results, Saint-Gobain management accused the company of ''exaggerating its prospects,'' and insinuated that the company would miss its growth goals. BPB ultimately fell to Saint-Gobain for £3.89 billion ($6.8 billion), even though management wanted more, in part because hedge funds that wanted to see the deal go through had amassed as much as a quarter of BPB's stock. BPB mounted a defense that reported stunning first-half results, Soon after Saint-Gobain management accused the company of exaggerating its prospects and insinuated that the company would miss its growth goals. The Plasterboard manufacturing was thrown into turmoil when BPB ultimately fell to Saint-Gobain for £3.89 billion ($6.8 billion).