Legal DealFolio - Berkshire Hathaway Acquisition of WPLG

On March 12, 2014, Graham Holdings Company and Berkshire Hathaway Inc. announced that they have reached an agreement in principle for Berkshire Hathaway to acquire a wholly owned subsidiary of Graham Holdings Company (which will include WPLG, a Miami-based television station, a number of Berkshire Hathaway shares currently held by Graham Holdings Company and an amount of cash) in exchange for approximately 1.6 million shares of Graham Holdings Class B common stock currently owned by Berkshire Hathaway and its subsidiaries. Cravath is representing Graham Holdings Company in connection with this transaction. The specific number of shares of each company and the amount of cash will be determined on the closing date based on certain factors, including the market prices of the shares of both companies at that time. No binding agreement has yet been signed in connection with the transaction. The transaction is subject to agreement on definitive documentation, and will be subject to regulatory approvals and other customary conditions. The Cravath team includes partner Eric L. Schiele and associate Amanda R. Fenster on corporate matters and partner Michael L. Schler and associate Kara L. Mungovan on tax matters.

Deal Date:	12-03-2014	Practice Area:	Corporate and M&A
Deal Title:	Berkshire Hathaway Acquisition of WPLG	Industry:	Media
Description:	On March 12, 2014, Graham Holdings Company and Berkshire Hathaway Inc. announced that they have reached an agreement in principle for Berkshire Hathaway to acquire a wholly owned subsidiary of Graham Holdings Company (which will include WPLG, a Miami-based television station, a number of Berkshire Hathaway shares currently held by Graham Holdings Company and an amount of cash) in exchange for approximately 1.6 million shares of Graham Holdings Class B common stock currently owned by Berkshire Hathaway and its subsidiaries. Cravath is representing Graham Holdings Company in connection with this transaction. The specific number of shares of each company and the amount of cash will be determined on the closing date based on certain factors, including the market prices of the shares of both companies at that time. No binding agreement has yet been signed in connection with the transaction. The transaction is subject to agreement on definitive documentation, and will be subject to regulatory approvals and other customary conditions. The Cravath team includes partner Eric L. Schiele and associate Amanda R. Fenster on corporate matters and partner Michael L. Schler and associate Kara L. Mungovan on tax matters.
Financial Center:	New York	Value:	100.01-500.00
Advised Party:	Vendor	Law Firm	Cravath
Target Company Jurisdiction:	United States	Acquiror Jurisdiction:	United States
Classification:	Strategic Buyer Acquisitions Private Company	Lawyer	Eric L Schiele

Practice Areas -

Corporate and M&A Law Firms and Lawyers

Practice Areas - Corporate and M&A Law Firms and Lawyers