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Welcome back everybody you know -- -- that says.
He loves to go -- -- for elephants to -- gigantic companies that generate a ton of cash.
-- -- -- such elephant in February.
When he -- stunned the business world but -- and hides out right it stayed hot with.
Three G capital a met at the top who got approached by -- to -- it.
Joins me out of Fox Business exclusive fast and it helped Johnson chairman and CEO and president -- -- Great to see you thank you for you to -- thanks for having you just -- -- shareholder meeting -- -- to what happens here what what was that like.
Well we had twenty people so we're -- -- -- -- -- get tomorrow but.
All I can say is better warm tomorrow than me -- 35000 people -- shareholders overwhelmingly approved the sale correct yes.
Not more than 95% and I knew they would when.
We put the deal together with such a great value -- 40% premium to our all time high and it was such a terrific.
Combination with three G and Berkshire Hathaway that I was never any concern at all what.
The things that they did approve was well it's it's a little I don't -- -- -- they call it a golden parachute jail where he would get out of very large payout.
What did you think when that happened you you brought this company very very well you've worked very hard you've dedicated your bike to it but the shareholders and we felt that.
The actual price of what would have been your your buyout was was not -- -- what -- you end up getting what do you think about well what I ended up getting because this deal was sixteen million dollars and so it's been bandied about it.
A number much larger than that 28 million yeah I was not surprised by -- it's very typical and I think -- -- is getting more more difficult.
Particularly with the rating agencies and the people coming after you in terms of the valuation but.
It doesn't bother me listen to our shareholder.
Try to respond.
Companies going private so from that standpoint it's pretty much moot point.
What's stopping a little bit as the fact that you're not -- here's why Warren has told us -- -- our Fox Business viewers here after -- figured that when he buys the business.
Keep buys the manager -- well.
At in this case he.
She broker this deal with three G capital which is of course a private equity out that they operate differently -- -- arguably -- -- abolition.
Not three G capital really was the primary driver in the deal engine Warner's delegated the operating status -- -- capital.
And typically when three G goes in and and Nixon offered by the company they bring their own management and because they have us unique business model itself.
No I wasn't surprised nor was I disappointed no.
Nor was I've really ready to retire so I'll move on and do something else something else such -- that -- IKEA us I do.
Neil Cavuto -- to -- Any -- what I -- the next time I see Neil I'll tell you what's -- point out that you're not.
Wearing the -- -- I think he always points out that you always but it does and he always talks about the fact I won't talk politics with them and I said right I just followed a politician so what more than it's up.
Yet governor Dave item but I'm sure about is very excited by the prospects of what the Heinz Field will be for Berkshire Hathaway but.
For you who have built that company and really.
Brought it a groundswell of of involvement in the emerging markets what are you most proud of having -- finds most proud of our people our employees we've got 32000 employees we.
Very high quality people we've got wonderful brands.
We have a presence in emerging markets -- -- -- among US companies and frankly among most companies around the world.
And I'm proud that that is three G in Berkshire move in -- to operating the business that we leave it and really good shape band and I think the future better than past.
Well thank -- also had thought.
I've taken private burger king and that's what -- put a public do you anticipate that they've actually happen where basic cuts but look at them they haven't declared what they're gonna do -- -- would not be surprised at some point in the future in order.
Regain their equity and and recapitalize -- does that take -- public but.
It's not clear to me yet exactly what they're -- -- get a call from Warren -- can -- just give us a window into the process of how it -- what you -- that -- what that was like what first got -- call from three -- capital of the week before Christmas and asked if I'd like to meet with them and I -- sure sometime in January February -- -- how about next week so -- literally -- the week before Christmas.
And in -- experience three -- capital visited me in Pittsburgh right after Christmas and said to me that report.
The Berkshire Hathaway were going to be involved when his name was brought it to the bad guys what was that like -- it was a surprise to me but it was also pretty exhilarating and then I talked to Warren.
Late January and -- came out here and had lunch with a first time an -- -- first time in Omaha home off in early February instinct thing was.
They -- more more -- to have you picked up -- -- flying through the airport.
And Warren pick me up himself and I don't mean -- -- driver I mean Warren pick me up.
I'll say this about Warren Buffett is a man a great integrity and ethics wonderful investor brilliantly insightful.
But he is not the world's greatest driver.
-- fit in the car with half -- there there's eighteen Wheeler comic well well.
Think it's thought that he's too busy.
But he's very intrusive and he wants to get some insights and perspective and so he's too -- communicating he really doesn't pay a lot of attention but.
-- very gracious he brought me here to this hotel to have lunch.
We had lunch who have three -- people for two and a half hours and he took me back to the airport.
And so it's really a very interesting experience for how could you not be disappointed that.
That -- off the bat that's been chosen to continue to -- -- Plus some disappointment but I'm not surprised and so I was prepared for mcinnis three -- model and -- -- made it very clear to me.
And for the markets that AVG operated the operator in effect on TV a couple of times Warner says that he would just assume that I stated C and that's all -- needed here.
That's all you need in here that the price of the buyout it's interesting to look at the stock it's pretty much -- the right there.
Seemed to be a very fair price.
The longest taught -- shareholders of clients and -- -- I'm sure you've known for many many years.
Was there any melancholy.
Feelings about it point.
Private horrific fire well I've had -- my premised on the 31 years have been CEO going on sixteen years in.
So more than half my time.
In the company -- CEO so I've had melancholy so why no there are long term shareholders should cheer those feelings and a couple came up to me after the meeting on Monday.
And didn't expressed doubts and misgivings just expressed a bit of angst in the -- of sadness about seeing the company go privately go and other people's hands.
No nice that I fully understand because they -- some of us being himself but that's public company and its future responsibility we -- chief executive officers have and so.
Ultimately it's the right thing for the shareholders and the right thing I think that employs.
Still Johnson that you are exemplary area of leader of a company end -- what a wonderful run -- -- -- -- It's not over yet not over yet know he's he's still -- the game David he's he's not retiring he's doing something is that this is your one shot at life.
You don't just want to give it up Bill Johnson thank you very thank you Liz appreciate any time chairman CEO.
Up -- and -- tell Neil Cavuto he's gonna Wear a tie for -- Next time -- -- I would be so sure about I mean that's the thing he may not be giving his plans but he's not wearing a -- that's that's a telltale sign of something.
Thank you Leslie gave.
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