For Warren Buffett, it wasn't a big deal. Monday, his company, Berkshire Hathaway (BRK.A), agreed to purchase the 19.9% of Wesco Financial Corp. (WSC) it did not already own for $548 million. The stock price was only up 1.33% in early trading. Then again, there was no surprise that this transaction would happen -- and that it would be at roughly the net value of Wesco.

Yet the deal certainly has significance. After all, Wesco has been a part of the Buffett empire for decades, and the chief of the company is Charlie Munger, who is the vice chairman of Berkshire. However, he is 87 years old and yes, he is actually thinking about the process of succession. To do this, there will need to be some reshuffling of assets.

Continue reading Buffett Picks Up the Rest of Wesco for $548 Million

Buffett Picks Up the Rest of Wesco for $548 Million originally appeared on BloggingStocks on Mon, 07 Feb 2011 11:10:00 EST. Please see our terms for use of feeds.

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Analyst initiations: Biotech, WCC, WYN, CNTY, VLO, KR originally appeared on BloggingStocks on Fri, 28 Sep 2007 11:25:00 EST. Please see our terms for use of feeds.

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Analyst upgrades 6-13-07: BBI, BMY, SAPE and TAP originally appeared on BloggingStocks on Wed, 13 Jun 2007 11:22:00 EST. Please see our terms for use of feeds.

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Analyst upgrades 5-14-07: ALJ, AMD, INTC and RMD originally appeared on BloggingStocks on Mon, 14 May 2007 10:54:00 EST. Please see our terms for use of feeds.