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Berkshire To Buy $548M Wesco Stake

Berkshire Hathaway will acquire a stake in Wesco Financial for about $547.6m.

Berkshire Hathaway will acquire a stake in Wesco Financial for about $547.6m. The property and casualty insurer will buy the remaining 19.9% of Wesco’s common stock, which it does not presently own.

The transaction is expected to be completed by the end of the second quarter of 2011.cis acting as financial advisor to the independent committee set up by Wesco board of directors, while Munger, Tolles & Olson is the transaction counsel of Berkshire.

Click here for the release from Berkshire Hathaway.

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