Warren Buffet’s firm buys up XTRA

Berkshire Hathaway Inc., owned by world-renowned financier Warren Buffet, said it has completed a cash purchase of outstanding common stock shares of trailer leasing giant XTRA Corp. Berkshire purchased approximately 10.2-million shares of Westport, CT-based XTRA, including some 200,000 shares tendered pursuant to guaranteed delivery procedures, out of XTRA’s 10.5 million shares currently outstanding,

Sean Kilcarr

Sept. 17, 2001

Berkshire Hathaway Inc., owned by world-renowned financier Warren Buffet, said it has completed a cash purchase of outstanding common stock shares of trailer leasing giant XTRA Corp.

Berkshire purchased approximately 10.2-million shares of Westport, CT-based XTRA, including some 200,000 shares tendered pursuant to guaranteed delivery procedures, out of XTRA’s 10.5 million shares currently outstanding, or approximately 97.0% of all outstanding shares. Berkshire will acquire the remaining XTRA shares in a merger.

XTRA leases, primarily on an operating basis, over-the-road trailers, marine containers, and intermodal equipment, including intermodal trailers, chassis and domestic containers. Berkshire Hathaway is a holding company owning subsidiaries engaged in a number of diverse business activities. The most important of these is the property and casualty insurance business conducted on both a direct and reinsurance basis through a number of subsidiaries.

About the Author

Sean Kilcarr

Editor in Chief

Sean Kilcarr is a former longtime FleetOwner senior editor who wrote for the publication from 2000 to 2018. He served as editor-in-chief from 2017 to 2018.