Berkshire Hathaway now Largest Shareholder in USG

Building products company USG converted notes held by Berkshire Hathaway into an equity stake, making Warren Buffett’s company the largest shareholder in the company at 30.5 percent. During the financial crisis in Nov. 2008, as reports, Berkshire invested $300 million in convertible notes at a 10% interest rate. Fairfax Financial Holdings kicked in another $100 million at the same time, and since then, shares have quadrupled to $28.64 per share. As MHProNews knows, Clayton Homes, the largest producer of manufactured housing in North America, is a wholly-owned subsidiary of Berkshire Hathaway.

(Image credit: Wikipedia)

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