NU Online News Service, May 6, 3:30 p.m. EDT--Berkshire Hathaway Inc., a holding company led by legendary investor Warren Buffet, will expand its insurance-business portfolio by acquiring GE Insurance Solutions' medical liability insurance unit for $825 million.
In the transaction, GE Insurance Solutions' medical liability unit Medical Protective Corp. will be sold to National Indemnity, a unit of Berkshire Hathaway Inc.
Executives from GE revealed the purchase price in an investors conference call today, but did not discuss any other details of the transaction.
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