Warren Buffet’s firm buys up XTRA

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,
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.

 

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