Quick Facts
FONT-SIZE Plus   Neg
Share SHARE
mail  E-MAIL

White Mountains Repurchases From Berkshire Hathaway All Its Remaining WTM Shares

2/23/2012 8:19 AM ET

White Mountains Insurance Group, Ltd. (WTM: Quote) said it has repurchased for cash all 89,729 White Mountains common shares beneficially owned by Berkshire Hathaway Inc. (BRKa,BRK-A: Quote,BRK-B: Quote) 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.

Click here to receive FREE breaking news email alerts for White Mountains Insurance Group Inc and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Chipmaker Advanced Micro Devices Inc. said Thursday after the markets closed that its first quarter loss narrowed from last year, helped by strong revenue growth in its graphics and visual solutions business. The company's quarterly earnings per share, excluding items, also came in above analysts' expectations as did its quarterly revenue. After trending higher over the past few sessions, stocks showed a lack of direction throughout the trading day on Thursday. The major averages spent the session bouncing back and forth across the unchanged line before ending the day mixed. While the major averages closed on opposite sides of the unchanged line, they all showed only modest moves. U.S. Secretary Of State John Kerry said Thursday that he and his counterparts from Russia, Ukraine and the European Union have reached an agreement on a preliminary plan for ending the ongoing crisis in Ukraine. Kerry was speaking at the end of the Ukraine contact group's first meeting, comprising the foreign ministers of Russia, Ukraine, the EU and the U.S., in the Swiss city of Geneva.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.