Share “News Summary: Buffett's firm tweaks...”

News Summary: Buffett's firm tweaks buyback plan

Published on NewsOK Modified: December 12, 2012 at 12:35 pm •  Published: December 12, 2012
Advertisement

OMAHA, Neb. (AP) — PRICEY PURCHASE: Warren Buffett's Berkshire Hathaway spent $1.2 billion to purchase 9,200 Class A shares from the estate of a longtime shareholder who was not identified.

BUYBACK BOOST: Berkshire board authorized Buffett to repurchase its own shares anytime they are trading for less than 120 percent of book value. Previously, the limit was 110 percent of book value.

FINANCIAL FLOOR: Analysts say Berkshire's new buyback program will keep the stock price from falling below 120 percent of book value because the company will buy shares whenever they become that cheap.


AROUND THE WEB

  1. 1
    Are Will Smith and Jada Pinkett Smith divorcing?
  2. 2
    Gay Tribal Members Not Guaranteed Their Own 'Big Fat Creek Wedding'
  3. 3
    4 arrested in Edmond after deputies find 120 grams of meth during traffic stop
  4. 4
    Report: Semaj Christon signs with Italy's Victoria Libertas Pesaro
  5. 5
    Olivia Munn is psyched to show off her killer 'X-Men' moves
+ show more

FEATURED JOBS



× Trending business Article