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Non-Tech : Berkshire Hathaway & Warren Buffet
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To: 249443 who started this subject8/1/2001 12:05:00 AM
From: 249443  Read Replies (1) of 240
 
Berkshire Hathaway brk.b Offer for Xtra XTR

Berkshire Hathaway's BRK.B tender offer for Xtra XTR doesn't stray from Warren Buffett's successful formula of buying companies in proven businesses on the cheap, and it is an example of why we continue to view the insurer favorably. On Tuesday, Berkshire offered $55 per share, a 5% premium to Monday's close, for transportation leasing company Xtra. At 1.3 times trailing-12-month sales, the purchase price can't be considered expensive. Xtra shares have generated a 4% average return over the past five years and underperformed the S&P 500 index by 11% on average, further demonstrating that Berkshire is stepping in where other investors aren't interested.
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