Buffett acquires remaining Shaw shares
By Furniture Today Staff -- Furniture Today, January 27, 2002
OMAHA, Neb. — Investment company Berkshire Hathaway, headed by Warren Buffett, has acquired the remaining shares of Shaw Inds., which makes rugs and other floor coverings.
Buffett bought a majority stake in Shaw for $2 billion a year ago.
Berkshire Hathaway purchased the final 12.7% of Shaw in exchange for 4,740 class A Berkshire Hathaway shares. The purchase is valued at about $350 million.
The Shaw shares were owned by a group which included Chief Executive Officer Robert Shaw, President Julian Saul and other members of Shaw's management. Shaw is based in Dalton, Ga.
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