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American Express Shareholder Vote Sparks Buffett Speculation
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Executive Producer
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A rule change at American Express sparks speculation Warren Buffett may be interested in the entire company. |
Speculation, (underline speculation), that Warren Buffett could be looking to buy American Express, has been sparked by the company's move this week to make it easier for shareholders to approve a merger or sale.
Instead of a two-thirds vote, only a majority of shareholders would be needed to clear a deal, under a proposal passed at the company's annual meeting.
Buffett's Berkshire Hathaway is already the biggest investor in American Express with almost 152 million shares as of the end of the year, worth about $7.3 billion at today's close of $48.02. Current price: [AXP
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A company spokesman tells Bloomberg there are "no current plans to effect any of these actions."
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Warren Buffett Watch has its own reminder. It's a Buffett quote that has appeared in many of these posts: "All the speculation is just speculation."
While it is not among our nominees for Best Buffett Bite of all-time, it's a good one to keep in mind.
Berkshire price: [US;BRK.A
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See Warren Buffett Watch on CNBC's The Call, most weekday mornings at 11:50a ET
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