Billionaire investor Warren Buffett said Wednesday that a shareholder vote on proposals to clarify the voting and economic rights of holders of Berkshire Hathaway Class B shares in the event of a merger is a “tidying up” and does not presage any major moves by the company.
“The company’s not going to be sold, but who knows what happens 100 years from now,” said Buffett, 74. “But it’s not going to be sold, there’s absolutely no chance of that, while I’m alive.”
Buffett, chairman and chief executive of Berkshire Hathaway Inc., also ruled out any plans to start paying dividends on Class A or Class B shares.
Berkshire’s Class A shares rose 10 cents to $87,000.10 on the New York Stock Exchange. Class B shares rose $24 to $2,888.