Berkshire To Round Out Stake In Wesco For $548M

Law360, New York (February 7, 2011, 3:34 PM EST) -- Berkshire Hathaway Inc. announced on Monday that it has committed to a $548 million deal to acquire the 20 percent of Wesco Financial Corp. that it does not already own.

A special committee of independent Wesco directors — formed after Warren Buffett’s Berkshire first proposed the deal in September — recently determined that the merger was “fair to and in the best interests of” Wesco and its non-Berkshire shareholders, according to a joint statement from the two companies.

Wesco’s special committee consists of independent directors Carolyn...
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