Wesco Investor Sues To Stop $548M Berkshire Deal

Law360, New York (February 9, 2011, 2:04 PM EST) -- A Wesco Financial Corp. shareholder has filed a putative class action seeking to block Berkshire Hathaway Inc.'s $548 million acquisition of the 20 percent of the company it doesn't already own.

The purchase price is inadequate because it doesn't offer a premium and actually is a substantial discount under Wesco's 52-week high stock price, investor Joel Krieger said in his complaint Tuesday in the Delaware Chancery Court.

“The proposed transaction is the product of a flawed process designed to sell Wesco to Berkshire on terms detrimental...
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