Buffett’s Berkshire Hathaway Buying Precision Castparts for $37.2 Billion
Monday, August 10, 2015
Buffett’s Berkshire Hathaway is buying Precision Castparts Corp. of Portland for $37.2 billion.
Precision Castparts is the manufacturer of equipment for the aerospace and energy industries and is one of Oregon’s largest employers - 3,000.
Buffett’s firm will pay $235 a share in cash - a 21% premium on Friday’s closing price.
Berkshire Hathaway Inc. is an American multinational conglomerate holding company headquartered in Omaha, Nebraska.
Precision describes itself as: The world leader in manufacturing high-quality, complex investment castings for aircraft engine, industrial gas turbine, airframe, and other applications, including the world's largest diameter investment cast components.
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