21:41:36 EDT Thu 16 May 2024
Enter Symbol
or Name
USA
CA



Berkshire Hathaway CDR (CAD Hedged)
Symbol BRK
Shares Issued 5,100,000
Close 2024-01-08 C$ 28.15
Market Cap C$ 143,565,000
Recent Sedar Documents

Globe/wire say Berkshire's trial with Haslams cancelled

2024-01-09 08:33 ET - In the News

The Globe and Mail reports in its Tuesday edition that an unusual billion-dollar trial between Warren Buffett's Berkshire Hathaway and the billionaire Haslam family was cancelled by the court on Saturday, two days before it was scheduled to start. A Reuters dispatch to The Globe quotes a Saturday docket entry for the case saying the two-day non-jury trial in Delaware's Court of Chancery was meant to determine the value of the Haslam family's 20-per-cent stake in Pilot Travel Centers, the largest U.S. truck-stop chain. It was expected to feature testimony from Mr. Buffett's designated successor, Greg Abel. The Haslams, including Cleveland Browns football-team owner Jimmy Haslam, sold Berkshire 80 per cent of Pilot for $11-billion (U.S.) in two separate deals, in 2017 and January, 2023. They also have a put option, allowing them to sell the remaining 20 per cent in the first two months of any year. Pilot has about 650 locations and sold 13 billion gallons of fuel in 2022. Each side has accused the other of accounting tricks to manipulate the company's earnings before interest and taxes, or EBIT, which determines the value of the Haslam's 20-per-cent interest. The Haslams accused Berkshire of "pushdown accounting."

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