Key Developments: Berkshire Hathaway Inc (BRKa.N)

BRKa.N on New York Stock Exchange

19 Dec 2014
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Latest Key Developments (Source: Significant Developments)

NV Energy Inc To Join Berkshire Hathaway Inc's Midamerican Energy Holdings Co
Wednesday, 29 May 2013 04:15pm EDT 

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
Tuesday, 7 May 2013 06:22pm EDT 

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
Thursday, 28 Mar 2013 03:59am EDT 

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
Thursday, 14 Feb 2013 07:53am EST 

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

Cigna Corp and Berkshire Hathaway Inc Sign $2.2 Billion Reinsurance Deal-Reuters
Monday, 4 Feb 2013 06:09pm EST 

Reuters reported that Cigna Corp and Berkshire Hathaway Inc struck a $2.2 billion deal in which Berkshire will reinsure Cigna's risk related to future claims for two annuity businesses Cigna has exited. Berkshire will receive $1.8 billion in assets related to the businesses and another $400 million, including $100 million in cash and $300 million funded from a tax benefit Cigna will receive.  Full Article

Jefferies in talks to sell futures business

- Investment bank Jefferies Group LLC, owned by Leucadia National Corp , said it was in talks to sell its commodities and financial derivatives brokerage, which has been struggling with high costs and falling fees.

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