No. of Recommendations: 4
<<Before a given block of shares can be sold, they must be registered. It's not true that one can assume that all shares of a give class are fungible.<<<
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Thanks for that helpful information. Does that apply, in this case, if Kraft were to ultimately seek to purchase all or part of the Berkshire stake?
Good question. I don't think so, though I think the seller would have to meet certain tests so that they are not making an "offer" of shares under certain definitions.
I got the impression that registration is only an SEC requirement for a block of shares to be listed on an exchange, but you'd have to ask someone more knowledgeable who knows what a phrase like "Section 4(a)(1½)” practice, Section 4(a)(1)" means.
Jim
