Buffett Expands Buyback to Pay Up to 120% of Book Value
This article is for subscribers only.
Warren Buffett’s Berkshire Hathaway Inc. cleared the way for more share repurchases, signaling that the billionaire chairman views the stock as undervalued.
Berkshire will buy back stock for as much as 120 percent of book value, a measure of assets minus liabilities, the Omaha, Nebraska-based company said today in a statement. The old limit was 110 percent.