15% + profit increase, page-4

re: 15% + profit increase-for oileak Hi oileak,

the SEL's costs for BRK t/o would include being stuck with 23.7% of BRK stock acquired at prices up to $1.51.

July 03.-BRK s/p 95c.
SEL ann.t/o of BRK-s/p rockets to $1.45 (50c premium).Offer in SEL's scrip.

Since SEL ann.t/o to proceed for cash at price of $1.51

At 22.12.03.SEL holds 23.7% of BRK (see ann.)

Final offer to close 24.12.03.

It is unlikely offer is going to be accepted by majority of BRK s/holders.So SEL is stuck with 23.7% bought at premium of 50c.Where do you reckon BRK shares will end
in case of SEL giving up?I reckon back towards $1.0-1.10 level.

That's what I meant re cost of t/o,buying stacks of BRK shares at $1.51,selling them at $1.00 (?),not to mention legal,money borrowing & other costs.The battle was (is) bitter and protracted and costly.

Been wrong before (wish I was again).

Regards

Nous