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Berkshire Hathaway to buy Precision Castparts in $37.2 billion transaction

Staff writer |
The boards of directors of Berkshire Hathaway Inc. and Precision Castparts Corp. have unanimously approved a definitive agreement for Berkshire Hathaway to acquire, for $235 per share in cash, all outstanding PCC shares.

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The transaction is valued at approximately $37.2 billion, including outstanding PCC net debt.

The transaction requires approval by a majority of PCC’s outstanding shares. Closing is expected to occur during the first quarter of calendar 2016, subject to customary closing conditions, including clearance under the Hart-Scott-Rodino Act and competition clearance in certain foreign jurisdictions.

PCC will continue to do business around the world under the Precision Castparts name and maintain its headquarters in Portland, Oregon.

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