Bill Pugliano/Getty Warren Buffett's Berkshire Hathaway is set to invest $600 million in Scripps to help fund its $2.65 billion acquisition of ION Media.The billionaire investor's company will receive preferred shares and a stock warrant in return, echoing Buffett's past deals with Goldman Sachs, General Electric, Bank of America, Mars, and Occidental Petroleum.Berkshire's Scripps deal is a return to its roots after uncharacteristic bets on Barrick Gold and Snowflake in recent weeks.Buffett's deputies seem willing to disregard Buffett's teachings, or emulate his strategies as needed.Visit Business Insider's homepage for more stories.Warren Buffett's Berkshire Hathaway has shocked investors in recent weeks by dumping financial stocks, investing in a gold miner, and betting on a lossmaking technology company's IPO.
Warren Buffett's Berkshire Hathaway Gets Back To Basics With $600 Million Scripps Deal After Shock Bets On Snowflake And Barrick
tmohamed@businessinsider.com (Theron Mohamed), Business Insider
Mon, 09/28/2020 - 4:34am
Topics: bill pugliano/getty berkshire's scripps visit business insider ipo however ion wrigley ted weschler business insider buffett's warren buffett's berkshire hathaway scripps media goldman sachs general electric bank america mars occidental petroleum berkshire barrick gold snowflake buffett shock bets shares stock preferred warrant dividend return investor company warrants fund receive buy pay cash deputies common received dividends takeover exchange
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