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
Computer and printer maker Hewlett-Packard Co. said Thursday after the markets closed that its second quarter profit fell 21% from last year, hurt by lower revenue and costs related to the planned separation of the company. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations, but its quarterly revenue fell short of analysts' forecast. Accounting software maker Intuit reported a plunge in third-quarter profit, hurt by impairment charges, even as results topped Wall Street estimates, driven by growth in small business segment amid a strong tax season. Struggling teen-apparel retailer Aeropostale Inc. (ARO), Thursday said its first-quarter loss narrowed from a year ago, driven largely by stronger margins even as revenues continued to plunge dropped. Nevertheless, the company lost almost one-fifth of its market value in after-hours trade, with the...
comments powered by Disqus
Follow RTT