James Hardie Soars On Takeover Talk

JAMES HARDIE Industries has soared on takeover speculation and signs the US housing market might be bottoming out after its worst slump in 15 years. Fresh from resolving its asbestos liabilities just over two months ago, shares in the building materials company surged more than 11 per cent, or 94c, to $9.31 yesterday after rumours swept the market that a takeover bid could be lobbed. Speculation centred on the world's largest manufacturer of fibreglass, Owens Corning of the US, which emerged from ...