Berkshire Hathaway (BRK.B $70.27 +3.90) announced that the Board has
authorized Berkshire Hathaway to repurchase Class A and Class B shares of
Berkshire at prices no higher than a 10% premium over the then-current book
value of the shares.
"In the opinion of our Board and management, the underlying businesses of
Berkshire are worth considerably more than this amount, though any such estimate
is necessarily imprecise. If we are correct in our opinion, repurchases will
enhance the per-share intrinsic value of Berkshire shares, benefiting
shareholders who retain their interest. Berkshire plans to use cash on hand to
fund repurchases, and repurchases will not be made if they would reduce
Berkshire's consolidated cash equivalent holdings below $20 billion. Financial
strength and redundant liquidity will always be of paramount importance at
Berkshire."






