Key Developments: Berkshire Hathaway Inc (BRKa.N)
175,700.00USD
1 Aug 2013
$1,800.00 (+1.04%)
$173,900.00
$175,600.00
$176,000.00
$175,000.00
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109
$178,900.00
$123,750.00
Latest Key Developments (Source: Significant Developments)
Berkshire Hathaway Inc's BH Media Acquires The Press of Atlantic City-FT
Financial Times reported that Berkshire Hathaway Inc's BH Media is acquiring The Press of Atlantic City from Abarta, a family owned conglomerate that has run the paper since 1951, for undisclosed terms. Full Article
Berkshire Hathaway Inc's Tulsa World To Cut Jobs-DJ
Dow Jones reported that Berkshire Hathaway Inc will cut about 50 jobs, but about 10 of those positions will shift to the corporate office. The newspaper is making operational changes concerning software and distribution, the Tulsa World reported. Full Article
Berkshire Hathaway Inc And 3G Capital Complete Acquisition Of H.J. Heinz Co
H.J. Heinz Co announced the completion of its previously announced acquisition by an investment consortium comprised of Berkshire Hathaway Inc and an investment fund affiliated with 3G Capital. The acquisition agreement was first announced on February 14 and the transaction closed and became effective on June 7, 2013. Heinz shareholders will receive $72.50 in cash for each share of common stock they owned as of the effective time of the merger, without interest and less any applicable withholding taxes. As a result of the completion of the merger, the common stock of Heinz will no longer be listed for trading on the New York Stock Exchange and Heinz expects no further trading after the close of business on June 7, 2013. As previously announced, Bernardo Hees has become Chief Executive Officer of Heinz, effective immediately. Heinz also announced that Paulo Basilio has become Chief Financial Officer of Heinz, effective immediately. Mr. Basilio will report directly to Heinz CEO Bernardo Hees. Full Article
H.J. Heinz Co Announces Receipt Of All Regulatory Approvals Required For Acquisition Of Heinz By Berkshire Hathaway Inc And 3G Capital
H.J. Heinz Co announced that it has received all regulatory approvals required for the acquisition of Heinz by an investment consortium comprised of Berkshire Hathaway and an investment fund affiliated with 3G Capital. The merger agreement between the parties was first announced on February 14 and was overwhelmingly approved by Heinz shareholders on April 30. The parties expect the transaction to close on or about June 7, 2013, subject to satisfaction of customary closing conditions. Full Article
Berkshire Hathaway Inc Buys Roanoke (va.) Times Newspaper-AP
The Associated Press reported that Berkshire Hathaway Inc is adding The Roanoke (Va.) Times to its growing group of small and medium-sized newspapers. Berkshire said it will acquire The Times from Landmark Media Enterprises . It will be Berkshire's 30th daily newspaper. Financial terms were not disclosed. Berkshire says The Roanoke Times has daily circulation of 76,000 and Sunday circulation of 90,000. Full Article
Berkshire Hathaway Inc's Unit To Buy Utility-WSJ
The Wall Street Journal reported that Berkshire Hathaway Inc.'s power and natural gas company plans to buy Nevada utility NV Energy Inc. for about $5.6 billion in cash. Full Article
NV Energy Inc To Join Berkshire Hathaway Inc's Midamerican Energy Holdings Co
Midamerican Energy Holdings Co , a subsidiary of Berkshire Hathaway Inc and NV Energy Inc announced that they have reached a definitive acquisition agreement whereby MidAmerican will acquire NV Energy, an energy holding company serving approximately 1.3 million electric and natural gas customers in Nevada. Under the terms of the agreement, MidAmerican will purchase all outstanding shares of NV Energy's common stock for $23.75 per share in cash. The transaction, which has been unanimously approved by both companies' boards of directors, has an enterprise value of approximately $10 billion. The acquisition is subject to customary closing conditions, including the approval of the transaction by NV Energy's shareholders and the receipt of required state and federal approvals. The transaction is currently expected to be completed in the first quarter of 2014. NV Energy will operate as a separate corporate subsidiary of MidAmerican Energy Holdings Company under its current name and will continue to be headquartered in Las Vegas. NV Energy will operate as a separate corporate subsidiary of MidAmerican Energy Holdings Company under its current name and will continue to be headquartered in Las Vegas. For NV Energy, Lazard Ltd. served as financial advisor and Sidley Austin LLP, Hogan Lovells and Reno-based Woodburn and Wedge served as legal advisors. Full Article
Berkshire Hathaway Inc May Boost DaVita HealthCare Partners Inc Stake To 25%-Reuters
Reuters reported that Berkshire Hathaway Inc, the investor in DaVita HealthCare Partners Inc, has entered an agreement allowing it to nearly double its stake in the U.S. operator of dialysis clinics to 25%. According to a regulatory filing, the companies on Tuesday entered a standstill agreement, which is often used to prevent unsolicited takeovers, indicating the maximum percentage of shares that Berkshire can own. Berkshire owned about 15 million DaVita shares, or 14.2%, as of March 4, according to another regulatory filing. Full Article
Swiss Re To Get $610 Million In Berkshire Hathaway Inc settlement-Reuters
Reuters reported that Swiss Re has settled a dispute with Berkshire Hathaway Inc over a 2010 life reinsurance deal and will receive a $610 million payment from the Warren Buffett's company, the Swiss reinsurer said. Under the original January 2010 deal, Swiss Re agreed to transfer a U.S. life reinsurance contract to Berkshire for 1.3 billion Swiss francs ($1.36 billion), allowing it to reinvest capital more profitably elsewhere. Full Article
H.J. Heinz Co Enters Into Agreement To Be Acquired By Berkshire Hathaway Inc And 3G Capital
H.J. Heinz Co announced that it has entered into a definitive merger agreement to be acquired by an investment consortium comprised of Berkshire Hathaway Inc and 3G Capital.Under the terms of the agreement, which has been unanimously approved by Heinz`s Board of Directors, Heinz shareholders will receive $72.50 in cash for each share of common stock they own, in a transaction valued at $28 billion, including the assumption of Heinz`s outstanding debt. The per share price represents a 20% premium to Heinz`s closing share price of $60.48 on February 13, 2013, a 19% premium to Heinz`s all-time high share price, a 23% premium to the 90-day average Heinz share price and a 30% premium to the one-year average share price. Advisors for this transaction include: Centerview Partners and BofA Merrill Lynch as financial advisors to Heinz and Davis Polk & Wardwell LLP as legal advisor to Heinz. Moelis & Company acted as advisors to the Transaction Committee of Heinz`s Board of Directors and Wachtell, Lipton, Rosen & Katz served as legal advisor to the Transaction Committee of Heinz`s Board of Directors. Lazard served as lead financial advisor. J.P. Morgan and Wells Fargo also served as financial advisors to the investment consortium. Kirkland & Ellis LLP is acting as legal advisor to 3G Capital. Munger, Tolles & Olson LLP is acting as legal advisor to Berkshire Hathaway. Full Article
CB&I profit tops estimates, but order outlook tempered
- Engineering company Chicago Bridge & Iron Co NV reported on Tuesday a higher-than-expected quarterly profit, but revised lower its anticipated new orders this year.

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