CORT Acquires Lounge22 Rental Business

According to a press release issued today, CORT has acquired the rental operations of Lounge22, including product and exclusive rights to market the rental brand on a global basis. CORT is a subsidiary of Wesco Financial Corporation which is an 80 percent owned subsidiary of Berkshire Hathaway. Last week, Berkshire Hathaway filed a disclosure with the SEC indicating that it will attempt to acquire the 20 percent of Wesco that it does not already own. Read this article for more details.

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