The case discusses Warren Buffett's 1995 acquisition of GEICO Corporation. Berkshire Hathaway, led by Buffett, acquired the remaining 49.6% of GEICO shares it did not already own for $2.3 billion, paying a 26% premium over GEICO's pre-announcement stock price. While an unprecedented premium, Buffett planned no changes to GEICO's operations and saw no synergies from combining the firms. The case examines Buffett's acquisition strategy and Berkshire Hathaway's financial performance leading up to the GEICO deal.