In an unexpected move, David Sokol, Warren Buffett’s presumed successor as Berkshire Hathaway(BRKB) CEO, has resigned from all of his positions at the company. Buffett made the announcement in a press release he identifies as “unusual”. Sokol, who apparently has attempted to resign before, resigned by letter two days ago, citing his desire to...
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If it looks like a duck and quacks like a duck, it might just be Sardar Biglari playing dress up. In his continuing effort to pretend to be Warren Buffett, Biglari Holdings(BH) announced this morning that its Board Of Directors had approved a 1-15 reverse stock split. This follows a previous 1-20 reverse split,...
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As reported previously, Berkshire Hathaway(BRK-B,BRK-A) announced its intention on August 25, 2010 to propose to Wesco(WSC) that it purchase the 19.9% of Wesco it did not already own. This morning, at long last, the two companies have announced a definitive merger agreement. Wesco shareholders will be able to elect cash or stock at what...
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From the just-filed 13D The original purpose of the purchases of the Shares, all of which occurred more than 30 years ago, was to increase the ultimate control by Blue Chip of Wesco. On August 25, 2010, Berkshire’s management determined to propose to Wesco a cash-stock election transaction in which it would acquire the remaining...
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Image by Getty Images via Daylife For years, Warren Buffett has spoken of searching for an elephant of a transaction. Berkshire Hathaway’s(BRKA,BRKB) announcement today that it will be acquiring Burlington Northern Santa Fe(BNI) in a $44 Billion deal represents the final capture of an elephant that has been in Buffet’s sights for several years...
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