Gates Foundation to sell 60M Berkshire shares

• The Gates Foundation says it will sell 60M shares of Berkshire Hathaway (BRK.A, BRK.B) over about three years to comply with federal income tax rules that limit business ownership by private foundations.
• The sale plan extends a similar plan that started in 2014 and expires in June, and the extended plan will continue through at least June 2020.
• The Gates Foundation sales will take into account demand for the shares and could be suspended if selling would disrupt the market for the shares.