Berkshire Hathaway to Complete Acquisition of Wesco Financial

The Santa Cruz Sentinel reports that Wesco Financial (AMEX: WSC), of Pasadena, California, will be acquired by Warren Buffett’s Berkshire Hathaway, Inc.  Berkshire has offered $389.01 in cash and Berkshire stock for each of the 1.4 million shares of Wesco it doesn’t already own, a total of $551 million.  Wesco has put its May 4 annual meeting on hold pending the outcome of the sale.  Wesco owns insurance businesses, provides rental furniture to corporate and individual clients, and operates a steel services business.

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