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Warren Buffett does his biggest deal ever: $37.2 billion
CNN Money ^ | August 10, 2015 | Chris Isidore, Ahiza Garcia and Jackie Wattles

Posted on 08/11/2015 3:39:06 AM PDT by Cats Pajamas

Buffett's Berkshire Hathaway said Monday it agreed to spend $37.2 billion for Precision Castparts -- the most it has ever paid for a company.

Precision Castparts (PCP) makes parts for aircraft makers, power companies and other industrial companies. Among its notable customers are General Electric (GE), Boeing (BA) and Airbus.

"I've admired [Precision Castparts'] operation for a long time. For good reasons, it is the supplier of choice for the world's aerospace industry, one of the largest sources of American exports," Buffett said in a statement.

Berkshire (BRKB) already held a 3% stake in the company, valued at more than $880 million. The $37 billion price tag includes assumption of Precision Castparts' debt. Berkshire's $235 a share price represents a 21% premium over its Friday closing price.

(Excerpt) Read more at money.cnn.com ...


TOPICS: Business/Economy
KEYWORDS:

1 posted on 08/11/2015 3:39:06 AM PDT by Cats Pajamas
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To: Cats Pajamas

Which means he’s taking this company overseas.


2 posted on 08/11/2015 4:12:44 AM PDT by driftdiver (I could eat it raw, but why do that when I have a fire.)
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To: driftdiver

You might be right about that.


3 posted on 08/11/2015 4:40:22 AM PDT by Cats Pajamas (Romans 1:18-32 ..............God gave them over to a depraved mind, to do those things.....)
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To: driftdiver

Which of his past purchases of manufactures has moved overseas?


4 posted on 08/11/2015 5:21:50 AM PDT by thackney (life is fragile, handle with prayer)
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To: Cats Pajamas

He likes dealing in baby parts, too


5 posted on 08/11/2015 5:33:14 AM PDT by Mamzelle
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To: thackney

As you know, Buffet is a huge supporter of offshoring jobs, illegal immigration and globalization.

But perhaps you’d care to defend him.


6 posted on 08/11/2015 6:15:44 AM PDT by driftdiver (I could eat it raw, but why do that when I have a fire.)
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To: driftdiver

It was a question, not a defense of him.


7 posted on 08/11/2015 6:20:04 AM PDT by thackney (life is fragile, handle with prayer)
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To: thackney

Sorry, I don’t have a list but a quick search shows heavy investing overseas. He was the one that took Burger King out of the US to avoid taxes.


8 posted on 08/11/2015 6:23:49 AM PDT by driftdiver (I could eat it raw, but why do that when I have a fire.)
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To: Cats Pajamas

Hopefully it backfires and this f’ing ghoul goes bankrupt.


9 posted on 08/11/2015 6:25:47 AM PDT by Darren McCarty (Big talk isn't courageous at all. Trump's a bigmouth and a joke. Cruz or Walker have my vote.)
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To: driftdiver

You cannot take this company overseas. There is too much precision involved and last thing anyone needs is to have these parts failing in aircraft.

This is not a company destined for China.


10 posted on 08/11/2015 6:27:04 AM PDT by EQAndyBuzz (Democrats are parasites. It really is that simple.)
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To: EQAndyBuzz

“You cannot take this company overseas. “

Sure you can. They’ll pay Americans to do it.


11 posted on 08/11/2015 6:28:05 AM PDT by driftdiver (I could eat it raw, but why do that when I have a fire.)
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To: Cats Pajamas

“Bernie Madoff”.


12 posted on 08/11/2015 8:06:45 AM PDT by Darksheare (Those who support liberal "Republicans" summarily support every action by same.)
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To: driftdiver

Thanks


13 posted on 08/11/2015 8:22:37 AM PDT by thackney (life is fragile, handle with prayer)
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To: Cats Pajamas

I was reading this story yesterday, and I was wondering what impact 3d printing will have on this company.


14 posted on 08/11/2015 8:27:22 AM PDT by Moonman62 (The US has become a government with a country, rather than a country with a government.)
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