NEW YORK (TheStreet) -- Although Warren Buffett himself has spent much of the past week flying under the radar, a number of recognizable Berkshire Hathaway (BRK.A) - Get Report-related companies have found themselves thrust into the spotlight.
BYD, the Chinese battery maker-turned-electric car manufacturer, attracted attention this week when it made its debut on the Shenzhen Stock Exchange. The company, which is already listed on the Hong Kong exchange, managed to raise 1.4 billion yuan, or $219 million, with its Shenzhen IPO. This amount was below expectations as BYD had hoped to raise 2.19 billion yuan.
BYD is one of Buffett's more unusual investments, particularly given the investor's past hesitance towards the technology sector. The billionaire has seen success with this multi-million dollar bet. However, in recent months the company has faced substantial headwinds, with this sub-par initial public offering being the most current.
BYD's Shenzhen IPO appears to have drummed up some interest, but looking ahead it will be interesting to see how the relationship between the company and Berkshire Hathaway plays out in the near future.
found itself back in the news cycle this week as well. In a recent regulatory filing, it was announced that Charles Cooley, its chief financial officer, and Stephen Kirk, chief operating officer, would relinquish their respective positions upon the completion of the Berkshire acquisition.
The two will become the second and third notable departures related to the $9 billion Berkshire/Lubrizol deal. Earlier this year, David Sokol, the individual often pointed to as being a front runner to lead Berkshire Hathaway post-Buffett, shocked many when he announced that he was stepping down from his post.
Although Sokol claimed he wanted to focus more of his attention on his family's financials, and philanthropy, the media homed in on reports of questionable Lubrizol trades he made leading up to Berkshire's acquisition announcement. A Berkshire Hathaway committee eventually found that these transactions were in violation of the company's code of ethics.
With 80.1% ownership of the company under its control and Charlie Munger, Buffett's partner, at the helm, Berkshire Hathaway had developed ample ties to
over the course of the two companies' multi-decade relationship. In the near future, however, this connection is expected to be tightened even further.
In February, investors learned that Buffett's firm had offered to buy up the remaining 19.9% stake in Wesco in a stock-and-cash deal. Initially, this offer translated into a $387 price tag for individual shares of WSC.
On Friday, Wesco shareholders will convene for a special meeting in order to vote on a per-share merger agreement. According to a Berkshire Hathaway press release, the offer has been slightly adjusted since the initial announcement. The per-share offer up for the vote now stands at $385.
On July 1, Munger is slated to take the stage in Pasadena, California in order to participate in, "Morning with Charlie." As the
noted, with Berkshire taking over full control of Wesco, this 3-hour question and answer session will likely be the last time Munger holds his own separate event. It will certainly be interesting to see what topics come up.
Written by Don Dion in Williamstown, Mass.
>>Apple Can't Seize the Moment
At the time of publication, Dion Money Management did not own any equities mentioned.