Koppers Co. said the U.S. Court of...
Koppers Co. said the U.S. Court of Appeals in San Francisco has extended an injunction at least temporarily blocking a hostile assault led by British-based Beazer PLC. The injunction was first issued March 26 by a U.S. District judge on antitrust concerns and has prevented BNS Inc., a partnership of Beazer and Shearson Lehman Hutton Inc., from acquiring Koppers’ stock. BNS appealed the injunction to the higher court in San Francisco, which issued the extension. Koppers, a Pittsburgh-based construction materials and chemicals company, has accused BNS of violating the court order blocking the hostile bid. BNS has offered $60 a share for Koppers, valuing the company at $1.78 billion.
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