Subject: Re: Coat tails 1: Davita, DVA
On September 5, 2024, the Company's Board increased the authorization under the Company’s existing share repurchase program by $2,000,000,000 in additional repurchasing authority (the "New Authorization"). The amount of shares of common stock authorized to be repurchased under the New Authorization does not include the amount remaining under the Company’s existing share repurchase program authorized on December 17, 2021 (the "Existing Authorization"). The Existing Authorization and the New Authorization do not have an expiration date and do not obligate the Company to purchase any shares. Repurchases under the New Authorization and the Existing Authorization may take place in the open market or in privately negotiated transactions, including without limitation, pursuant to the Company's share repurchase agreement, dated as of April 30, 2024 with Berkshire Hathaway Inc. (the "Berkshire Share Repurchase Agreement"), on behalf of itself and its affiliates, through accelerated share repurchase transactions, derivative transactions, tender offers, Rule 10b5-1 plans or any combination of the foregoing. There can be no assurance as to the precise number of shares that will be repurchased under the Existing Authorization or the New Authorization, the aggregate dollar amount of the shares purchased, or the ultimate disposition of the shares purchased (re-issued, retained in treasury and/or retired). Depending on market conditions, regulatory, legal and contractual requirements and other factors, repurchases may be made at any time or from time to time, without prior notice. The Company may suspend or discontinue the Existing Authorization and/or the New Authorization, or increase or decrease the amount of shares authorized to be repurchased thereunder, at any time. The Company remains subject to certain share repurchase limitations, including under the terms of its current senior secured credit facilities.