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Berkshire Hathaway good to go after Duracell

Staff writer |
The European Commission had approved Berkshire Hathaway's purchase of Procter & Gamble's Duracell battery unit.

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The Commission said in a statement the proposed acquisition would not raise competition concerns given the absence of horizontal overlaps and the existence of numerous competitors in the vertically related market where the parties are active.

In November last year, Berkshire Hathaway has entered into a definitive agreement with Procter and Gamble whereby it will acquire its Duracell battery business.

Pursuant to the agreement, in exchange for a recapitalized Duracell Company, which will include approximately $1.7 billion in cash at closing, P&G will receive shares of P&G's common stock currently held by Berkshire Hathaway having a current value of approximately $4.7 billion.

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