Warren Buffett’s Berkshire Hathaway Inc. on Tuesday stated it had taken full possession of truck-stop operator Pilot Travel Centers from the Haslam household — the homeowners of the NFL’s Cleveland Browns — following a settlement settlement between the edges earlier this month.
In a short assertion, Berkshire
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stated it had purchased Pilot Corp.’s remaining 20% stake in Pilot Travel Centers, finest identified for its Pilot Flying J truck stops and gasoline stations. No phrases of the deal have been supplied.
Earlier this month, Berkshire stated it had settled a lawsuit with Pilot Corp., Pilot Travel Centers and National Indemnity Co. over how a lot Pilot Travel Centers was truly price.
The Haslam household alleged that Berkshire was attempting to undervalue the corporate, in accordance with experiences. Berkshire, in flip, alleged that Jimmy Haslam had taken steps to unfairly push the corporate’s worth greater.
Berkshire had amassed the opposite 80% of Pilot Travel Centers over the previous a number of years, in accordance with the Wall Street Journal.
Jimmy Haslam’s father, Jim Haslam, based Pilot Corp. in 1958. Haslam and his spouse, Dee, have owned the Browns since 2012.
Shares of Berkshire have been down fractionally after hours.
Source web site: www.marketwatch.com
