Berkshire Hathaway To Acquire Precision Castparts For $235/shr In Cash

(RTTNews) - The boards of directors of Berkshire Hathaway Inc. (BRK.A, BRK.B) and Precision Castparts Corp., or PCC (PCP) have unanimously approved a definitive agreement for Berkshire Hathaway to acquire all outstanding PCC shares for $235 per share in cash. The transaction is valued at about $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.