DOW JONES NEWSWIRES
TTI Inc., a unit of Warren Buffett's Berkshire Hathaway Inc.
(BRKA, BRKB), agreed to acquire Sager Electronics, a privately held
distributor of electronic components.
The transaction is expected to close by April 2. Financial terms
of the deal weren't disclosed.
TTI, which distributes electronic components for industrial and
consumer electronic manufacturers, said Sager Chief Executive
Raymond Norton will stay on as an adviser for a period of time
following the deal's closing.
Buffett, one of the world's richest people, has built Berkshire
over four decades into a conglomerate with more than 70 discrete
units, including Dairy Queen, Fruit of the Loom and car insurer
Geico Corp. Berkshire owns a railroad and a trucking company,
operates power plants and gas pipelines, sells farm supplies and
furniture, and manufactures machine parts and mobile homes. The
wide reach of its companies makes Berkshire a proxy for the U.S.
economy.
The company's fourth-quarter earnings showed a 30% decline in
profit as the conglomerate's insurance units struggled and
derivatives bets added less to the bottom line.
Class B shares were recently up 0.3% at $81.33.
-By Mia Lamar, Dow Jones Newswires; 212-416-3207;
mia.lamar@dowjones.com