Berkshire Hathaway to acquire Business Wire.Berkshire Hathaway Berkshire Hathaway (NYSE: BRKA, NYSE: BRKB) is a conglomerate holding company headquartered in Omaha, Nebraska, U.S., that oversees and manages a number of subsidiary companies. (Omaha, NE) has signed a definitive agreement to acquire Business Wire (San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , CA), a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. that is a global distributor of corporate news, multimedia and regulatory filings. No terms of the deal were given. The deal is expected to close in the first quarter. Business Wire was founded in 1961 by chairman Lorry Lokey. The company's multi-channel delivery network, with access to over 60 international and national news agencies, financial information providers and online news services throughout North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Europe, Asia, Latin America, the Middle East and Africa, provides real-time, simultaneous access for an audience that includes the news media, trade publications, institutional and individual investors, b2b decision-makers and consumers. Business Wire has recently established numerous regulatory disclosure networks in Europe in preparation for the European Union's Transparency Obligations Directive (TOD), which will take effect in January 2007. The TOD mandates harmonized, pan-European disclosure standards for publicly traded companies publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. in all 25 member states. Berkshire chairman/ceo Warren Buffet said "we have followed our blueprint of buying profitable companies that are industry leaders, yet have significant growth potential" and that "Business Wire's experienced management team was key to our decision." |
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