Warren Buffett's Berkshire Hathaway Acquires Remaining Stake in Utility Unit

The conglomerate will pay $2.4 billion in cash and issue Class B shares to the family of late board member Walter Scott.

Berkshire Hathaway will buy the remaining 8% of its utility unit from the estate of Walter Scott, achieving full ownership.
The deal includes $2.4 billion in cash and 1.6 million Class B Berkshire shares, making it difficult to estimate the total value due to the non-public nature of the utility's shares.
The purchase mirrors a similar transaction when Berkshire bought Vice Chairman Greg Abel's 1% stake for $870 million in 2022.
PacifiCorp, one of Berkshire's biggest utilities, has faced significant wildfire-related losses, impacting the utility's valuation.
Berkshire Hathaway Energy, which includes MidAmerican Energy and NV Energy, expects to finalize the deal following regulatory approvals this quarter.