Warren Buffett's Berkshire Hathaway Inc (BRKa.N) (BRKb.N) will buy the 19.9 percent it does not own of Wesco Financial Corp (WSC.A), in a deal worth about $547.6 million, the companies said on Monday. In September, Buffett submitted a takeover bid for Wesco, run by Berkshire Vice Chairman Charlie Munger. Berkshire acquired its 80.1 percent stake in Wesco more than 30 years ago. [ID:nN01140753] The transaction will give each Wesco shareholder the right to receive either cash or Berkshire Class B common stock. The deal is expected to close before the end of the second quarter of 2011.
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