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Berkshire Won't Issue Stock When Joining S&P 500

Source: AP


Posted on 29 Jan 2010

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Berkshire Hathaway Inc. won't issue additional stock when it joins the S&P 500 and S&P 100 stock indexes.

Warren Buffett's company said Thursday the only shares it plans to issue in the near future are the ones required as part of Berkshire's $26.3 billion acquisition of Burlington Northern Santa Fe Corp.

Buffett's Omaha, Neb.-based company says it's received several inquiries about whether it will issue stock since Standard & Poor's announced plans Tuesday for Berkshire to replace BNSF in its indexes.

All the investment funds that mirror the S&P 500 will buy Berkshire stock after it joins the index, so there will be demand. Buffett has said he expects those investment funds to buy about 6 percent of Berkshire's stock.


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