Both classes of Warren Buffet's Berkshire Hathaway Inc. (BRK.A) - Get Report (BRK.B) - Get Report stock reached all-time highs Tuesday even though the company's $9 billion bid to purchase power transmission company Oncor fell through.
The deal's failure resulted in Standard & Poor's affirming the company's AA credit rating, saying that the company is no longer at risk for a credit downgrade.
Berkshire had negotiated a $270 million deal breakup fee with Oncor.
Berkshire couldn't maintain its momentum Wednesday afternoon as class A and B shares declined.
Don't miss these top stories on TheStreet:
- The Federal Reserve Will Have an Insane $10 Trillion in Assets, Top Expert Warns
- We Might Have Unlocked the Secret Behind Amazon's Big Deal for Whole Foods
- Blue Apron Hiring Freeze Comes After Meal Kit Company Takes Blows From Indexes
- Samsung's Galaxy Note 8 to Be Unveiled Wednesday - Here's What You Need to Know
- Walmart Should Merge With Microsoft to Blow Away Amazon: REWIND