Buffett's Berkshire Hathaway to buy Precision Castparts Corp. in biggest deal
Warren Buffett's Berkshire Hathaway announced it is acquiring aerospace and energy industry parts maker Precision Castparts Corp. in its biggest deal ever.
The $37.2 billion deal will see Berkshire Hathaway acquire all outstanding shares in Portland, Ore.-based Precision Castparts for $235 per share in cash.
If completed, the deal will surpass Berkshire Hathaway's acquisition of the Burlington Northern Santa Fe railroad for about $27 billion in 2009. Precision Castparts makes aerospace engine parts and aircraft doors, parts for industrial gas turbines, as well as medical prosthetics.
Most recently, Berkshire Hathaway helped achieve the merger of Heinz and Kraft. Buffett's firm and 3G Capital, which acquired Heinz in 2013 for about $28 billion, also provided $10 million to seal the deal.
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