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Exhibit (a)(9)
For Immediate Release
BERKSHIRE HATHAWAY INC. SUBSIDIARY SUCCESSFULLY COMPLETES CASH TENDER OFFER FOR
SHARES OF JUSTIN INDUSTRIES, INC.
Omaha, Nebraska and Fort Worth, Texas, July 26, 2000 - Berkshire Hathaway
Inc. (NYSE: BRK.A, BRK.B) and Justin Industries, Inc. (Nasdaq: JSTN) announced
today successful completion of the cash tender offer by a subsidiary of
Berkshire Hathaway for all outstanding shares of common stock of Justin. The
tender offer expired, as scheduled, at 12:00 midnight, Eastern standard time, on
Tuesday, July 25, 2000. Berkshire Hathaway, through its wholly owned subsidiary
making the offer, has accepted for purchase all shares validly tendered and not
withdrawn prior to the expiration of the offer. Based on information provided
by The Bank of New York, as paying agent, approximately 24.7 million shares of
Justin have been acquired by Berkshire Hathaway's subsidiary out of the
approximately 25.8 million shares currently outstanding, or approximately 95.6 %
of all outstanding shares.
Payment for shares properly tendered and accepted will be made as promptly
as practicable and, in the case of shares tendered by guaranteed delivery
procedures, promptly after timely delivery of shares and required documentation.
As previously announced, Berkshire Hathaway will acquire the remaining
Justin Industries shares in a merger in which each share of Justin common stock
will be converted into the right to receive $22.00 in cash and following which
Justin will become a wholly owned subsidiary of Berkshire Hathaway. Berkshire
Hathaway and Justin expect to consummate the merger as soon as practicable.
Justin Industries includes Acme Building Brands - Acme Brick Company, the
leading domestically owned United States manufacturer of face brick; Featherlite
Building Products Corporation, the leading Southwest producer of concrete
masonry products; and American Tile Supply Company, a major Texas distributor of
ceramic and marble floor and wall tile, and Justin Brands - Justin Boot
Company(R), Nocona Boot Company(R), Tony Lama Company(R), and Chippewa Shoe
Company(R).
Berkshire Hathaway is a holding company owning subsidiaries engaged in a
number of diverse business activities. The most important of these is the
property and casualty insurance business conducted on both a direct and
reinsurance basis through a number of subsidiaries.
FOR FURTHER INFORMATION CONTACT:
Berkshire Hathaway Inc.
Marc D. Hamburg - (402) 346-1400
Justin Industries, Inc.
Richard Savitz - (817) 390-2412
or Georgeson Shareholder Communications Inc., Information Agent in the tender
offer, at (212) 440-9800 (call collect) or 1-800-223-2064 (toll free).
