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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

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