Berkshire Hathaway Inc. (NYSE: BRK.A; BRK.B) and Precision Castparts Corp. (NYSE: PCP) have completed the acquisition of PCC for USD235 per share in an all-cash transaction, the company said.
The transaction having been approved by PCC shareholders and having met all US and non-US regulatory filing requirements, is valued at approximately USD37.2 billion, including outstanding PCC net debt. The transaction was announced on August 10, 2015.
With the closing of this transaction, PCC is now a wholly owned subsidiary of Berkshire. PCC´s headquarters remain located in Portland, Oregon and the company continues to be led by Mark Donegan.
Berkshire Hathaway and its subsidiaries engage in diverse business activities including insurance and reinsurance, utilities and energy, freight rail transportation, finance, manufacturing, retailing and services.
Precision Castparts is a worldwide, diversified manufacturer of complex metal components and products. It serves the aerospace, power, and general industrial markets.