Act of 1996, which significantly reduced in-market ownership limitations, especially in large metropolitan areas, GAF Broadcasting was sold to Entertainment Communications, Inc. (who in turn swapped the radio station to Viacom, Inc. for three other radio stations) for $90 million. At the time, this was the highest price paid for a single radio station in the US, and reflected a value of more than 45.0 times cash flow. Heyman continued to invest his own money and the cash accounts of each of GAF Building Materials and ISP in risk arbitrage, and in September 1996 Heyman took sizable long and short positions in Office Depot and Staples, Inc., respectively, when these two office products companies announced their merger. Unfortunately for Heyman, the US Justice Department refused to let the deal proceed, and Heyman lost nearly $200 million in trying to unwind his personal positions, and those at GAF and ISP. Heyman returned to pursuing corporate takeovers in 2000, when he was involved in the unsuccessful takeover attempts of Dexter Chemical Corporation, the London Stock Exchange, and Hercules Corporation. In 2007, during Airline Partners Australia's attempted takeover of Qantas, his hedge fund, Heyman Investment Associates declined to accept Airline Partners Australia's offer for his shares in the airline. Much of the bidding team blamed Heyman for the takeover's ultimate failure. In 1967, GAF's prior chairman, Dr. Werner, acquired a roofing company, Ruberoid Corporation. However, one of Ruberoid's roofing product lines included asbestos as a fire retardant, and the business acquired included an asbestos mine in Vermont. Despite the mine being closed in 1975, asbestos litigation grew substantially, with GAF eventually paying out more than $1.5 billion in asbestos-related bodily injury claims. Heyman unsuccessfully lobbied Congress to change the law governing asbestos litigation and eliminate punitive damages. Philanthropy Heyman had a diverse array of philanthropic interests. Most notably, he founded and served as chairman of the Washington-based Partnership for Public Service, a nonprofit organization that encourages undergraduates to pursue careers in public service. He endowed the Heyman Fellowship Program at Harvard Law School, Yale Law School, Columbia Law School, and Seton Hall School of Law to assist graduates with careers in federal government. He also established The Samuel and Ronnie Heyman Center on Corporate Governance at the Benjamin N. Cardozo School of Law. Heyman won the Presidential Citizens Medal in 2008 for his charity work. Personal life Heyman married Ronnie Feuerstein in 1970.