The move is effective immediately.

Berkshire Hathaway, which owns 89.8% of MEHC, is America’s largest holding company with $162.46bn in sales in 2012. MEHC generated 7.2% of Berkshire’s revenue that year and posted $1.47bn net income.

"This new name more accurately reflects our growing, diversified mix of businesses and the customers they serve,” Berkshire says in a statement. “It also reinforces the company’s strategy to own and operate a portfolio of high-quality assets, grow and diversify through a disciplined acquisition strategy, and build and maintain strong stakeholder relationships.”

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