Berkshire Hathaway To Begin Share Buyback

Omaha, NE, Sept. 26, 2011 -- Warren Buffett's conglomerate Berkshire Hathaway, parent company of Shaw Industries, said it will launch a share buyback program, an unusual move for Buffett.

Berkshire said it would buy back Class A and Class B shares at a premium of no more than 10 percent to book value.

The company said it would use cash on hand to fund the buybacks, but would not buy any shares if doing so took the company's cash position below $20 billion. Berkshire had $38.23 billion cash at June 30.

Related Topics:Shaw Industries Group, Inc.