Buffett spends $32 billion in buyout of Precision Castparts

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On Monday, Warren Buffett’s Berkshire Hathaway said that the $354 billion industrial empire is buying Precision Castparts which is the biggest acquisition so far.

Buffett, known for buying undervalued and often unloved companies, acknowledged the high price. The acquisition of the aerospace company is one of Buffett’s largest deals ever.

The proposed transaction, worth $32 billion, would be the largest deal in Berkshire’s history.

Precision is a big industrial company that has 30,000 employees, 155 manufacturing sites and has produced $10 billion in revenue during its fiscal year ended March 2015.

Read more Buffett spends $32 billion in buyout of Precision Castparts - Dispatch Times
 
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