Warren Buffett’s Berkshire Hathaway could be on the verge of closing its biggest deal ever.
The holding company is close to acquiring aerospace and energy industry parts maker Precision Castparts Corp., of Portland, Ore., in a deal that could exceed $ 30 billion. The transaction, which could be announced as soon as next week, was first reported by The Wall Street Journal.
If completed at that price, the deal would surpass Berkshire Hathaway’s acquisition of the Burlington Northern Santa Fe railroad for about $ 27 billion in 2009. Precision Castparts makes aerospace engine parts and aircraft doors, parts for industrial gas turbines, as well as medical prosthetics.
Most recently, Berkshire Hathaway helped achieve the merger of Heinz and Kraft. Buffett’s firm and 3G Capital, which acquired Heinz in 2013 for about $ 28 billion, also provided $ 10 million to seal the deal.
Follow Mike Snider on Twitter: @MikeSnider
Read or Share this story: http://usat.ly/1TblVSN
No comments:
Post a Comment