Buffett Nears $30B Deal for Precision Castparts (PCP): Report

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.

Disclaimer: This page contains affiliate links. If you choose to make a purchase after clicking a link, we may receive a commission at no additional cost to you. Thank you for your support!

Be the first to comment

Leave a Reply

Your email address will not be published.


This site uses Akismet to reduce spam. Learn how your comment data is processed.