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 ...
Which means he’s taking this company overseas.
You might be right about that.
Which of his past purchases of manufactures has moved overseas?
He likes dealing in baby parts, too
As you know, Buffet is a huge supporter of offshoring jobs, illegal immigration and globalization.
But perhaps you’d care to defend him.
It was a question, not a defense of him.
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.
Hopefully it backfires and this f’ing ghoul goes bankrupt.
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.
“You cannot take this company overseas. “
Sure you can. They’ll pay Americans to do it.
“Bernie Madoff”.
Thanks
I was reading this story yesterday, and I was wondering what impact 3d printing will have on this company.
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