Home Capital shareholders reject new investment from Berkshire Hathaway
Shareholders of Home Capital Group Inc. voted opposite holding a second life line from Warren Buffett’s Berkshire Hathaway, that keeps a billionaire’s interest in a choice debt lender during only underneath 20 per cent.
More than 88 per cent of Home Captial shareholders voted opposite a offer that would have seen Buffett’s company buy another 23.9 million shares in a association for $10.30 a share.
Buffett’s association already owns 16 million shares in a company, that he acquired progressing this summer in sell for loaning a association $2 billion US after depositors pulled out 90 per cent of their income after regulators began to examine a company.
Buffett bought his strange interest for roughly $9.55 a share. Currently, Home Capital shares are trade during $13.90 on a TSX. As recently as 2014, a shares were value some-more than $50 a share.
Article source: http://www.cbc.ca/news/business/berkshire-hathaway-warren-buffett-1.4285448?cmp=rss