RE:RE:will Warren Buffet tender his shares?Stooge, sounds like you are one of those short sellers that got caught holding the bag.
You clearly lack basic knowledge on how SIB and NCIB work. They are buying back $300 million worth of shares which is over 20% of their current market cap, hence "substantial". Normal course issuer bid is limited to 5% of shares outstanding. They HAVE to do a SIB.
BH and TC mostly likely will not tender at the even the top of the price range. like other ppl said, BH is not looking for a quick flip. I don't think he will sell any especially when the price is significantly below book value. TC will not sell because their average cost is above $20.
Both of these are value investors. You think value investors will sell their investments at book value? Good luck holding the short bag!
Stooge wrote: riverrrow wrote: Has WB ever sold shares at a discount to NAV?
Surprised that they are using the Dutch auction rather than normal course issuer bid.
But the Dutch method gives Berkshire Hathaway an exit. All BH has to do is tender all at $16.00 and they are bought out at whatever the auction price is. Turtle Creek might also want out ... then things all bets are off.
I suspect the Dutch auction was chosen to allow either BH or TC to sell out in a single transaction.