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Berkshire Hathaway Seeks OK To Acquire Over 10% Of Shares Of Various Retail Supplier Parents Or Affiliates
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Berkshire Hathaway
Inc. has sought from FERC prospective authority to make secondary market purchases of common stock in certain companies (the "Covered Companies") which own or which are affiliated with various retail suppliers, among other businesses, with such potential share purchases potentially exceeding 10 percent or more of the outstanding voting securities of each company
Berkshire Hathaway does not seek authorization to exceed 20% of the outstanding voting securities in each
Covered Company
Berkshire Hathaway’s potential acquisition of additional voting securities in each Covered
Company would be independent transactions effectuated through secondary market purchases of
the publicly traded shares of each Covered Company.
The various potential share purchases by Berkshire include share purchases of various Covered Companies which are unaffiliated with each other, and Berkshire's potential purchase of shares of one company is not contingent or linked to share purchases of any other company.
Of note, Berkshire Hathaway seeks authorization to acquire, directly or
indirectly, voting securities of, among other companies, the following:
• Marubeni, which ultimately owns SmartestEnergy US, LLC
• Mitsui, which is affiliated with Mitsui & Co. Energy Marketing and Services (USA), Inc. and MEMS Industrial Supply, LLC
Berkshire Hathaway also seeks authorization for potential share purchases in ITOCHU, which is affiliated with certain Tenaska generation entities, and Sumitomo
"Berkshire Hathaway’s potential acquisition of additional voting securities in each Covered
Company would be independent transactions effectuated through secondary market purchases of
the publicly traded shares of each Covered Company, and the acquisition of shares in one Covered
Company will not be dependent on the acquisition of shares in another Covered Company," Berkshire said
"These shares in the Covered Companies would be purchased by and held at the Berkshire
Hathaway level, not BHE, reflecting Berkshire Hathaway’s intent to treat its financial position in
the Covered Companies as distinct from its outright ownership of the BHE-owned public utilities.
In addition, this limitation reflects Berkshire Hathaway’s intention to treat its investments in the
Covered Companies in a more passive nature than its ownership of BHE’s public utilities," Berkshire said
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May 19, 2025
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Copyright 2025 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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