Berkshire Hathaway acquired XTRA Corporation for ~$590 million, a transaction completed in September 2001, structured as Cash tender offer at $55.00/share followed by a second-step merger; tender offer completed September 17, 2001 and merger completed September 20, 2001..
XTRA Corporation operates in Transportation equipment leasing, is based in United States and international (headquartered in Westport, Connecticut). Berkshire Hathaway entered into a definitive merger agreement to acquire XTRA Corporation via a cash tender offer of $55.00 per share, valuing the transaction at approximately $590 million. Founded in 1957 and headquartered in Westport, Connecticut, XTRA is a leading operating lessor of transportation equipment, including over-the-road trailers, marine containers and intermodal equipment. XTRA became a wholly owned Berkshire subsidiary.
An outstanding transportation-leasing business with a strong brand and fleet; Berkshire ownership lowers XTRA's cost of capital and supports growth.
Advisory firms were not disclosed for this transaction.