Berkshire Hathaway Inc. ( BRK.B ) 69.75 a share
Berkshire Hathaway Inc. (Berkshire) is a holding company owning subsidiaries engaged in a number of business activities. The most important of these are insurance businesses conducted on both a primary basis and a reinsurance basis. Berkshire also owns and operates a number of other businesses engaged in a variety of activities. Berkshire’s insurance and reinsurance business activities are conducted through over 60 domestic and foreign-based insurance entities. In March 2008, it acquired 60% of Marmon Holdings, Inc. (Marmon). In November 2008, White Mountains Insurance Group, Ltd. (White Mountains) completed its exchange with Berkshire of runoff businesses. Berkshire exchanged about 95% of its interest in White Mountains for 100% of a White Mountains subsidiary, whose holdings consist of Commercial Casualty Insurance Co. and International American Group Inc. B)—Berkshire Hathaway Inc. announced that at a Special Meeting of
Shareholders held earlier today, its shareholders approved amendments to Berkshire’s certificate
of incorporation that provide for a 50-for-1 split of its Class B Common Stock. As a result each
existing outstanding share of Class B Common Stock will be exchanged for fifty shares of New
Class B Common Stock. There will not be a record date or a payable date. The New Class B
Common Stock will begin trading on the New York Stock Exchange as of the opening of the
market tomorrow and the existing Class B Common Stock will cease trading as of the close of
the market today 1/21/10.
Berkshire’s Class A Common Stock is not being split. However as a result of the amendments to
our certificate of incorporation, beginning tomorrow each share of Class A Common Stock will
be convertible into 1,500 shares of New Class B Common Stock.
Berkshire Hathaway and its subsidiaries engage in diverse business activities including property
and casualty insurance and reinsurance, utilities and energy, finance, manufacturing, retailing and
services. Common stock of the company is listed on the New York Stock Exchange, trading
symbols BRK.A and BRK.B.A 50-1 stock split made shares more accessible for most investors and also led to speculation it could soon be included in the S&P 500. This could attract some new investors by eliminating the sticker shock long associated with Berkshire shares.It could also, some observers have suggested, pave the way for Berkshire to join the S&P 500 since it would increase the amount of shares outstanding. The people in charge of maintaining the S&P 500 have typically been wary of adding stocks with low levels of liquidity. This is a long term play ! Buy,Buy,Buy !
Markets rise in shortened trading session
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Dow went up 192, advancers over decliners about 2-1 & NAZ rose 191. The
MLP index added 4 to the 296s & the REIT index was even in the 397s. Junk
bond ...
15 hours ago
2 comments:
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