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US: Warren Buffett close to a $30 billion deal for Precision Castparts

 |  August 9, 2015

Warren Buffett’s Berkshire Hathaway is nearing an agreement to buy Precision Castparts in what could be the company’s largest purchase ever, the Wall Street Journal reported Saturday, citing people familiar with the matter.

The purchase of Precision Castparts, which makes aircraft components and energy-production equipment, could be announced as soon as next week and be valued at more than $30 billion, assuming typical premiums for mergers, the newspaper said. Precision Castparts’ market capitalization was $26.7 billion Friday.

Berkshire is one of Precision Castparts’ largest shareholders, with a roughly 3 percent stake worth $882 million as of March 31, according to U.S. Securities and Exchange Commission filings.

Full content: The Wall Street Journal

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