Berkshire (BRK.B) B Shares Up 3% Amid Buyback News
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Shares of Berkshire Hathaway (NYSE: BRK.B) B shares are up 3 percent to around $68.60 following news the company has authorized a repurchase program.
According to the release, the company will buyback stock at prices no higher than a 10 percent premium over the then-current book value of the shares. 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.
According to the release, the company will buyback stock at prices no higher than a 10 percent premium over the then-current book value of the shares. 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.
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