Reuters: Global Markets: Australia's Boral shares surge after annnouncing plasterboard JV

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Australia's Boral shares surge after annnouncing plasterboard JV Oct 16th 2013, 23:14 SYDNEY | Wed Oct 16, 2013 7:14pm EDT SYDNEY (Reuters) - Shares in Australian building materials maker Boral (BLD.AX) jumped as much as 8 percent on Thursday after it announced a $1.6 billion plasterboard joint venture with its U.S. peer USG Corp (USG.N). The joint venture will be owned 50 percent by Boral and 50 percent by USG, for which USG will pay up to $575 million to Boral, according to statements by the two companies. Boral shares were up 6.7 percent at A$5.07 at 2306 GMT, after hitting a 7-month high of A$5.12 earlier. USG shares closed down 1.3 percent at $27 on Wednesday.

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