Buffett's co buys Precision Castparts for $37 bn

Warren Buffett's investment firm Berkshire Hathaway has agreed a deal to buy aircraft components manufacturer Precision Castparts Corp (PCC) for $37.2 billion (£24 billion), reports BBC.
This represents $235 a share, compared with Friday's closing price of $194.
Buffett said he had "admired PCC's operation for a long time".
Berkshire Hathaway said it expected the deal, which is subject to PCC shareholder approval, to close during the first three months of next year.
"For good reasons, [PCC] is the supplier of choice for the world's aerospace
industry, one of the largest sources of American exports," Buffett said.
"Berkshire's board is proud that PCC will be joining [us]."
Mark Donegan, PCC chief executive, said the deal offered "compelling and immediate value for our shareholders".
PCC makes complex metal components for the aerospace, power and industrial sectors.

Buffetts co buys Precision Castparts for $37 bn

Warren Buffetts investment firm Berkshire Hathaway has agreed a deal to buy aircraft components manufacturer Precision Castparts Corp (PCC) for $37.2 billion (24 billion), reports BBC. This represents $235 a share, compared with Fridays closing price of $194. Buffett said he had admired PCCs operation for a long time. Berkshire Hathaway said it expected the deal, which is subject to PCC shareholder approval, to close during the first three months of next year. For good reasons, [PCC] is the supplier of choice for the worlds aerospace industry, one of the largest sources of American exports, Buffett said. Berkshires board is proud that PCC will be joining [us]. Mark Donegan, PCC chief executive, said the deal offered compelling and immediate value for our shareholders. PCC makes complex metal components for the aerospace, power and industrial sectors.