Warren Buffett’s Berkshire Hathaway is part of a group in exclusive talks to buy Citigroup’s consumer-lending business, reported our colleagues Serena Ng and Mike Spector. Other members of the bidding group include Centerbridge Partners and Leucadia National Corp.
The latter is a sprawling conglomerate some observers have compared to Berkshire. Leucadia owns pieces of businesses from an Australian iron ore miner to investment bank Jefferies. Berkshire Hathaway owns businesses in industries ranging from kitchen knives to railroads. Leucadia’s chairman even scribbles a shareholder letter reminiscent of Buffett’s annual epistles.
In fact, in Buffett’s letter to shareholders of Berkshire Hathaway in February 2010, the Oracle lauded the deals he had done with Leucadia. In 2009, Berkshire and Leucadia bought Capmark, a commercial mortgage origination and serving business, and renamed it Berkadia Commercial Mortgage. Buffett predicted to Berkshire investors more joint deals would be coming:…..
Wait, wait...there's more at http://blogs.wsj.com/deals/2011/07/06/warren-buffetts-prophecy-comes-true/
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