Berkshire Hathaway (BRK.A), (BRK.B), the conglomerate owned by billionaire Warren Buffett, is reportedly nearing a deal to buy Portland-based Precision Castparts Corp. (PCP). The Wall Street Journal first reported the news saying such a transaction from Berkshire, which already owns a 3.1% stake in the aircraft equipment maker and is its largest shareholder, would be the biggest acquisition in conglomerate’s long deal-making history. Based on Precision’s last closing price, a merger could break $30 billion, the publication added.
An agreement could be announced as soon as next week, sources told the paper.
Precision Castparts’ market value was $26.70 billion / $193.88 per share on Friday. In the past 52-weeks shares have traded between a low of $186.17 and a high of $249.12.
PCP stock has dropped about 16% year-over-year and 20% year-to-date.