DaVita enters share repurchase agreement with Berkshire Hathaway to cap ownership at 45%

DAVITA INC.

Agreement requires DaVita to repurchase shares from Berkshire quarterly if ownership exceeds 45% of outstanding.
Immediate repurchase triggered if Berkshire ownership exceeds 49.5%.
Berkshire agrees to vote any shares beneficially owned above 40% as per board recommendation.
Existing standstill agreement from February 2022 remains in effect.
Repurchase price is volume-weighted average price paid by DaVita for open-market repurchases in the period.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.99

DAVITA INC. entered into Share Repurchase Agreement with Berkshire Hathaway Inc. valued at share repurchase agreement: Company to repurchase from Investor shares sufficient to return benefici (effective 2024-04-30).

Action: entry
Agreement: equity purchase
Counterparty: Berkshire Hathaway Inc.
Value: share repurchase agreement: Company to repurchase from Investor shares sufficient to return benefici
Effective: 2024-04-30

Exact text from the filing

On April 30, 2024, DaVita Inc. (the “Company”) entered into a letter agreement (the “Share Repurchase Agreement”) with Berkshire Hathaway Inc., on behalf of itself and its Affiliates (as defined in Rule 12b-2 under the Securities Exchange Act of 1934, as amended) (collectively, “Investor”), the largest stockholder of the Company.

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Source: SEC EDGAR

accession 0000927066-24-000083

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