Berkshire Hathaway Approves Share Buyback Plan

Law360, New York (September 26, 2011, 3:11 PM EDT) -- Berkshire Hathaway Inc. said Monday that it would buy back company shares for the first time under CEO and Chairman Warren Buffett, calling the stock undervalued and saying it would pay as much as 110 percent of book value for its shares.

News of the repurchase program, a tactic Buffett previously eschewed, boosted Berkshire share prices by more than six percent Monday morning. The Omaha, Neb.-based company's Class A shares were trading on the New York Stock Exchange at $106,393, up more than $6,000 from the...
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