The “Oracle of Omaha” is grabbing headlines again by spending big money on a manufacturer of parts for the energy and aerospace industries. Multibillionaire Warren Buffett’s Omaha-based Berkshire Hathaway recently announced that it has agreed to acquire Precision Castparts Corp. The transaction is valued at approximately $37.2 billion, including PCC’s outstanding net debt, according to a recent Berkshire press release.
PCC is the world leader in structural investment castings, forged components, and airfoil castings for aircraft engines and industrial gas turbines. In contrast, Berkshire Hathaway and its subsidiaries engage in diverse business activities including insurance and reinsurance, utilities and energy, freight rail transportation, finance, manufacturing, retailing and services.
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