Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Berkshire Hathaway    BRK.A

BERKSHIRE HATHAWAY (BRK.A)
Mes dernières consult.
Most popular
Report
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Berkshire Hathaway : Buffett announces deal to acquire Pilot Flying J

share with twitter share with LinkedIn share with facebook
share via e-mail
0
10/04/2017 | 12:48pm CET

Oct. 04--ANDERSON -- Billionaire investor Warren Buffett announced a deal to acquire a majority control of truck-stop chain Pilot Flying J.

Berkshire Hathaway Inc., owned and controlled by Buffett, announced Tuesday a deal originally giving the investment company a significant minor investor in Pilot Travel Centers LLC., with plans to eventually own a majority share in the company.

In the agreement, Jimmy Haslam will remain CEO, and Pilot Flying J President Ken Parent and the company's management team will also remain in place through 2023. The company's headquarters will remain in Knoxville, Tennessee.

Pilot Flying J is the largest operator of travel centers in North America, with more than 27,000 team members, 750 locations across the U.S. and Canada, and more than $20 billion in revenues.

Three Pilot Travel Centers are located in Madison County, two in Daleville at the Interstate 69 ramps and one at the intersection of 69 and Indiana 13 near Ingalls.

Under the terms of the agreement, Berkshire will acquire a 38.6 percent equity stake in Pilot Flying J. The Haslam family will continue to hold a majority interest with 50.1 percent ownership in the Company and FJ Management, Inc., owned by the Maggelet family, will retain 11.3 percent ownership until 2023.

In 2023, Berkshire will become the majority shareholder by acquiring an additional 41.4 percent equity stake and the Haslam family will keep 20 percent ownership and remain involved with Pilot Flying J, according to a press release.

"Pilot Flying J is built on a longstanding tradition of excellence and an unrivaled commitment to serving North America's drivers," said Buffett, chairman, president and CEO of Berkshire Hathaway.

Pilot Flying J pointed to milestones in the company's growth, including the merger of Pilot with Flying J, as well as transactions with Marathon Ashland Petroleum, Williams, Speedway, Mr. Fuel and Speedway-Wilco as having helped to grow the company's network.

James Haslam II, founder and chairman, Pilot Travel Centers LLC, said, "Berkshire Hathaway's investment in Pilot Flying J is a testament to our exceptional team members and their dedication that has made Pilot Flying J the great company it is today. We are committed to continuing to make a difference in Tennessee, supporting and giving back to our communities here at home."

___

(c)2017 The Herald Bulletin (Anderson, Ind.)

Visit The Herald Bulletin (Anderson, Ind.) at www.theheraldbulletin.com

Distributed by Tribune Content Agency, LLC.

© Tribune Content Agency, source Regional News

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on BERKSHIRE HATHAWAY
12/13 U.S. transit agencies cautious on electric buses despite bold forecasts
12/13 U.S. transit agencies cautious on electric buses despite bold forecasts
12/13 U.S. transit agencies cautious on electric buses despite bold forecasts
12/13 BERKSHIRE HATHAWAY : Specialty Insurance Opens Dublin Office, Names Cormac Mcnam..
12/11 BERKSHIRE HATHAWAY : Ken Haynes Joins Berkshire Hathaway HomeServices Hodnett Co..
12/08 BERKSHIRE HATHAWAY : Duracell Appoints Thom Lachman to CEO of the Duracell Compa..
12/08 BERKSHIRE HATHAWAY : A.M. Best Affirms Credit Ratings of Berkshire Hathaway Inc...
12/08 BERKSHIRE HATHAWAY : DeAnne Cohrs Joins Berkshire Hathaway HomeServices Hodnett ..
12/08DJInsurance Australia Inks Quota-Share Deals with Three Reinsurers
12/07DJBERKSHIRE HATHAWAY : Correction to Berkshire Hathaway Duracell CEO Headline
More news
News from SeekingAlpha
12/10 Class I Rail Traffic November 2017 Update - Rail Traffic Looking Stable With ..
12/09 Stocks to watch next week
12/09 STOCKS TO WATCH : Investors Eye 2018 Picks
12/07 Abel looking more likely as next Berkshire head
12/06 TOLL APPROACHES NEW HIGHS : Analysis Of Q4 And A Look Ahead
Financials ($)
Sales 2017 242 B
EBIT 2017 24 561 M
Net income 2017 16 209 M
Debt 2017 -
Yield 2017 -
P/E ratio 2017 29,22
P/E ratio 2018 24,52
Capi. / Sales 2017 2,03x
Capi. / Sales 2018 2,01x
Capitalization 491 B
Chart BERKSHIRE HATHAWAY
Duration : Period :
Berkshire Hathaway Technical Analysis Chart | BRK.A | US0846701086 | 4-Traders
Technical analysis trends BERKSHIRE HATHAWAY
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 5
Average target price 300 900 $
Spread / Average Target 0,76%
EPS Revisions
Managers
NameTitle
Warren Edward Buffett Chairman & Chief Executive Officer
Marc D. Hamburg Chief Financial Officer & Senior Vice President
Charles Thomas Munger Vice Chairman
David Sanford Gottesman Independent Director
Walter Scott Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
BERKSHIRE HATHAWAY20.59%485 569
THE ALLSTATE CORPORATION38.49%36 733
THE TRAVELERS COMPANIES9.63%36 445
TOKIO MARINE HOLDINGS INC7.63%33 472
SAMPO OYJ5.42%29 820
MS&AD INSURANCE GROUP HOLDING INC2.56%19 150