Berkshire Hathaway Inc. to Acquire Shares of Wesco Financial Corporation Not Presently Owned for $547.6M

Berkshire Hathaway Inc. BRKA and Wesco Financial Corporation WSC announced today that they entered into a definitive merger agreement, whereby Berkshire Hathaway will acquire the remaining 19.9% of the shares of Wesco's common stock that it does not presently own in exchange for cash or shares of Berkshire Hathaway Class B common stock, at the election of each shareholder. Based on the estimated shareholders' equity of Wesco as of January 31, 2011, the transaction values the 19.9% of Wesco not owned by Berkshire Hathaway at approximately $547.6 million.