Del. Judge Clears Berkshire's $548M Deal For Wesco

Law360, Wilmington (May 10, 2011, 9:43 PM EDT) -- A Delaware judge on Tuesday rejected arguments in a shareholder class action that a special committee was conflicted in probing Berkshire Hathaway Inc.’s $548 million acquisition of Wesco shares that Berkshire does not already own, allowing the merger to go through.

Shareholder Joel Krieger filed a proposed class action to block the deal for the last 20 percent of Wesco's shares on Feb. 9, alleging the transaction was fraught with self-dealing by Wesco’s board and shortchanged minority shareholders.

But Vice Chancellor J. Travis Laster found that...
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