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Current DateTime: 02:42:25 10 Jul 2009
LinksList Documentid: 30078629
Buffett Watch
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Nov.18
10:36 AM ET
Tuesday, 18 Nov 2008
Buffett's Berkshire Gets A Billion In Beer Bucks

BUDWEISER
Warren Buffett's Berkshire Hathaway will get almost a billion dollars in cash for its Anheuser-Busch shares, now that the St. Louis brewer's acquisition by Belgium's InBev has been formally completed.

In a news release this morning, the newly renamed Anheuser-Bush InBev notes that under the terms of the $52 billion merger deal, each BUD share has been exchanged for $70 in cash.

Berkshire's third quarter portfolio filing last Friday listed 13,845,000 Anheuser shares as of September 30.  That works out to $969,150,000 in new cash for Buffett's company.

It would have been a larger number, if Buffett hadn't sold millions of BUD shares in June.  At that point, InBev was offering $65 a share and Anheuser-Busch was aggressively moving to fend off a takeover, making a deal far from a sure thing.

Berkshire reported holding 35.6 million BUD shares at the end of March, worth $2.5 billion at today's deal price.  (Of course, Berkshire did get roughly $1.3 billion from the sale of those 22 million shares around $61.)

Current Berkshire stock prices:

Class A: [US;BRK.A  Loading...      ()   ]

Class B: [US;BRK.B  Loading...      ()   ]

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