logo
Share SHARE
FONT-SIZE Plus   Neg

White Mountains Repurchases From Berkshire Hathaway All Its Remaining WTM Shares

White Mountains Insurance Group, Ltd. (WTM) said it has repurchased for cash all 89,729 White Mountains common shares beneficially owned by Berkshire Hathaway Inc. (BRKa,BRK-A,BRK-B) at a purchase price of $500 per share. The company has 30,668 shares remaining under its share repurchase authorization.

White Mountains also said it plans to initiate a self-tender offer to purchase up to 1 million of its common shares at a purchase price of $500 per share net to the seller in cash.

The tender offer is expected to commence on February 24, 2012 and expire at 12:00 midnight, New York City time, on March 22, 2012, unless extended. White Mountains' common shares closed on the New York Stock Exchange at $481.76 per share on February 22, 2012.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Microsoft Corp. (MSFT) has cut the price of Xbox One bundles by $50 ahead of next month's Electronic Entertainment Expo. The 500GB Xbox One bundled with either Quantum Break, Gears of War: Ultimate Edition, The Lego Movie Videogame, Forza Motorsport 6, Rise of the Tomb Raider, or Rare Replay is now... Red-hot Las Vegas beat other big cities to become the best and most budget-friendly summer travel destination this year, according to financial website WalletHub. WalletHub's Shares of Allergan plc rose in early trades Tuesday after billionaire investor Carl Icahn said he recently acquired a "large position" in the Botox maker and was very supportive of CEO Brent Saunders. Icahn did not disclose details of the stake he acquired in Allergan.
comments powered by Disqus
Follow RTT