Exit Options for John Hancock Bond and Corporate Finance Group: Hanover Communications In... - 28 Strategic Investors

View x

Warren Buffett’s Berkshire Hathaway looking to buy Precision Castparts Corp for over $30 billion

American multinational conglomerate Berkshire Hathaway Inc. owned by Warren Buffett is close to an agreement to buy Precision Castparts Corp, in what is being touted as the company’s largest purchase ever. Buying Precision Castparts that makes aircraft components and energy-production equipment will cost Berkshire more than $30 billion, considering typical premiums for mergers. Berkshire is Precision Castparts’ largest shareholders with around 3 percent stake worth $882 million as March 31. Though it began building that stake in 2012, it remains among the smaller investments in Berkshire's portfolio. The addition of Precision Castparts would extend Buffett's decade-long push into the industrial sector, where he has bought such companies as parts maker Marmon, Israeli toolmaker Iscar, and specialty chemicals company.

Tags:

US,PRECISION,CAST,M,A,BERKSHIRE,HATHA,Berkshire Hathaway Inc.,Warren Buffett,Precision Castparts Corp