Buffett's Berkshire Swaps Shares


	Buffett's Berkshire Swaps Shares

Tina Russo

3-11-2008 10:54 AM

596 views

tags:

warren buffett, berkshire hathaway, geico, general re, white mountains insurance, commercial casualty, international american group

Tina Russo says:

The deal is expected to close in the third quarter and adds two more insurance companies to Berkshire's assets, which already owns Geico and General Re.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/cc01b1f5-4127-4b39-9130-38bc6f68324a/DC416C64-B9D1-480C-9332-C4EDD8714FE6/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.usatoday.com/money/industries/insurance/2008-03-10-berkshire-white-mountains_N.htm" href="http://www.usatoday.com/money/industries/insurance/2008-03-10-berkshire-white-mountains_N.htm" style="font-size: 11px;">www.usatoday.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.usatoday.com/money/industries/insurance/2008-03-10-berkshire-white-mountains_N.htm">Billionaire Warren Buffett's Berkshire Hathaway <A href="http://stocks.usatoday.com/custom/usatoday-com/html-quote.asp?symb=brka">(BRKA)</A><A href="http://stocks.usatoday.com/custom/usatoday-com/html-quote.asp?symb=brkb">(BRKB)</A> has agreed to trade its 16.3% stake in White Mountains Insurance Group <A href="http://stocks.usatoday.com/custom/usatoday-com/html-quote.asp?symb=wtm">(WTM)</A> for two subsidiaries and $751 million.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.usatoday.com/money/industries/insurance/2008-03-10-berkshire-white-mountains_N.htm">In addition to the cash, Berkshire will get Commercial Casualty Insurance Co. and International American Group. Those two companies had gross assets of about $435 million.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.usatoday.com/money/industries/insurance/2008-03-10-berkshire-white-mountains_N.htm"><P class="inside-copy">"White Mountains is now a larger, more diversified business, competing actively in many areas with Berkshire Hathaway," Barrette said. "This is a graceful, value-enhancing way to go our separate ways."</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/DC416C64-B9D1-480C-9332-C4EDD8714FE6/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>