Billionaire Warren Buffett will acquire American iron and steel company for a record $30 bln

Billionaire Warren Buffett will acquire American iron and steel company for a record $30 bln

It became known about a huge deal of Warren Buffett`s Berkshire Hathaway company`s acquiring American Precision Castparts iron and steel corporation

This information was spread by The Wall Street Journal.

The price of the purchase may exceed $30 bln.

For Berkshire Hathaway company, this deal may became the biggest in its history. The official information about the deal will become available during this week.

Precision Castparts company was founded in 1949 in Portland city (Oregon). Precision Castparts is engaged in producing steal fusible details for defense and aerospace industries. Its product is purchased by Boeing. Apart from that Precision Castparts produces equipment for electrical stations and O&G terminals.

Currently, the valuation of the corporation is equal to $26,7 bln. For the previous year company earned $9.6 bln.

3% of Precision Castparts` shares were under the management of Warren Buffett`s innovational holding, which made him one of the biggest shareholders of American iron and steel corporation.

Earlier, the most expensive deal for Berkshire Hathaway was the acquisition of Texas Burlington Northern Santa Fe railway company for $26 bln, which was closed in 2010.

Ранее, самой дорогой сделкой для Berkshire Hathaway считалась покупка техасской железнодорожной кампании Burlington Northern Santa Fe за $26 млрд., которая состоялась в 2010 году.

Warren Buffett established Berkshire Hathaway in 1955. Since then, the holding took under control around 80 companies.

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