Berkshire Hathaway spends US$590 mln acquiring Xtra

Berkshire Hathaway announced to acquire the freight wagon and container chartering company Xtra at US$55 per share, 5.2% discount to the closing price of Xtra on Monday, involving US$590 mln. The acquisition was the second acquisition movement for Berkshire Hathaway within this year. Xtra released profit warnings last month, claiming as the demands for cargo transportation decreased and the operation cost increased, the profit in Q3 was expected to drop 57% and the per share profit would range between 50 cents to 55 cents. Xtra Corp rose US$2.42 to close at US$54.72.

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