Berkshire Nears Deal To Acquire Precision Castparts : WSJ

(RTTNews) - Billionaire Warren Buffett's Berkshire Hathaway Inc. (BRK.A, BRK.B) is nearing a deal to buy Precision Castparts Corp. (PCP), the Wall Street journal reported citing people familiar with the matter.

Given typical premiums, the price tag for Precision Castparts Corp, which had a market value of $26.7 billion as of Friday's close, could exceed $30 billion, the journal reported.A deal could be announced as soon as next week.

Berkshire is one of Precision Castparts' largest shareholders, with a 3% stake as of March 30. Founded in 1949, the Portland, Ore. company makes components such as fasteners and turbine blades for aircraft companies including Airbus Group SE and Boeing Co.