Buffett to buy building product maker Johns Manville

Building-products manufacturer Johns Manville, which recently called off a planned sale to an investment group, has agreed to be acquired for more than $1.9 billion by Berkshire Hathaway Inc., the investment holding company headed by billionaire Warren Buffett.

The deal provides that Omaha, Neb.-based Berkshire will pay $13 per share in cash for all of Johns Manville's shares. With nearly 148 million shares outstanding, that would value Johns Manville at about $1.92 billion. Johns Manville also carries about $300 million in debt. The merger agreement is subject to government and court approval.