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Berkshire Hathaway Inc. Message Board

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  • ignoramus_ ignoramus_ Aug 28, 1998 1:24 PM Flag

    Will the merger fail if BRK falls furthe

    <<< Let me say first that I hope it
    doesn't fall through because I am the proud owner of GRN
    stock (purchase price $239 3/4), unless, of course,
    that GRN should track back up if the merger is
    cancelled (by the way, I just voted FOR the merger on my
    GRN proxy). But I sure wouldn't buy GRN here; I'd
    rather have BRK, since the shares are almost trading at
    parity. Yes, GRN shareholders are getting a raw deal at
    these prices. I can't speak for others, but, as of now,
    I haven't filed suit to block the merger. ljh
    >>>

    Your irony is well taken...

    Well, perhaps the
    GRN-owning part of you would make more if you voted against
    the merger now. My impression is that GRN shares
    could fetch more if GRN was put up for auction. And
    they could buy BRK stock individually, although that
    would have different tax implications.

    I mean,
    sure, Buffett and Ron Ferguson got a good deal, but I
    do not think that GRN shareholders did. As a owner
    of BRK I am reasonably happy about this, but I am
    afraid that GRN owners may disagree.

    Good luck to
    all

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    • ........if there is concern among the GenRe stockholders about the merger, you would never know it from their msg board. It's been strangely silent for a week now.....

    • I actually thought about voting against this
      thing, but then I figured, "What the heck? No more
      shares than I have, it probably wouldn't matter anyway."
      Pathetic, huh? That's the same type of apathy that stuck
      this country with Clinton for 6 (and maybe even 8
      years). How true, how true. Clinton got the majority of
      the VOTE, but certaily NOT from a majority of
      Americans. Most Americans, in fact, sat out the both of the
      elections. So much for politics. I would commit all new
      money to BRK, rather than GRN. And I must admit, it's
      looking better and better all the time (if the super B's
      drop below $2,000, I'm in for more; ditto if the A's
      drop below $60,000--I figure that's at or below
      intrinsic value). ljh

      • 1 Reply to longjohnholder
      • ljh wrote:

        <<<I actually thought
        about voting against this thing, but then I figured,
        "What the heck? No more shares than I have, it probably
        wouldn't matter anyway." Pathetic, huh? That's the same
        type of apathy that stuck this country with Clinton
        for 6 (and maybe even 8 years). How true, how
        true.>>>

        Well, KKKlinton is a scumbag, no doubt, but some bigger
        owners of GRN might vote against the merger
        nevertheless. Even the arbitrageurs.

        Look at their
        position: they are long GRN and short BRK.

        If the
        merger fails, then GRN would likely go up (because of
        alternative bids) and BRK would likely go down. What a
        bonanza.

        Saying all this hurts me, but what the
        heck.

        I just voted FOR the merger with my BRK shares...
        So I am indirectly screwing all the GRN fellows
        here... Sorry about that folks.

        <<<I
        would commit all new money to BRK, rather than GRN. And
        I must admit, it's looking better and better all
        the time (if the super B's drop below $2,000, I'm in
        for more; ditto if the A's drop below $60,000--I
        figure that's at or below intrinsic value). ljh
        >>>

        Check out the stock prices of Berkshire holdings, ljh.
        They have gone down by a lot.

 
BRK-A
214,490.00-250.00(-0.12%)Apr 24 4:00 PMEDT