Carlyle Bows Out of Elkcorp Auction

The Carlyle Group has bowed out of the bidding for Dallas-based roofing and building products company ElkCorp (NYSE: ELK). Carlyle had originally offered to buy the company for $38 per share, but was then topped by a $40 per share offering from Building Materials Corp. of America. Carlyle raised its offer to $40.50 per share, again got topped, and raised it once more to $42 per share. But the latest BMC offer of $43.50 per share was too rich for Carlyle, which will receive a $29 million termination fee. www.elkcorp.com www.carlyle.com