News 

The boards of directors of Berkshire Hathaway Inc. and Precision Castparts Corp. (“PCC”), which is a manufacturer of complex metal components and products, have unanimously approved a definitive agreement for Berkshire Hathaway to acquire, for $235 per share in cash, all outstanding PCC shares. The transaction is valued at approximately $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. PCC will continue to do business around the world under the Precision Castparts name and maintain its headquarters in Portland, Oregon.