Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

PRECISION CASTPARTS CORP.

SummaryNewsCompany 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Precision Castparts : Berkshire Hathaway Completes Acquisition of Precision Castparts

01/29/2016 | 04:02pm EST

Berkshire Hathaway Inc. (“Berkshire”) (NYSE: BRK.A; BRK.B) and Precision Castparts Corp. (“PCC”) (NYSE: PCP) today announced the completion of the acquisition of PCC for $235 per share in an all-cash transaction. The transaction having been approved by PCC shareholders and having met all U.S. and non-U.S. regulatory filing requirements, is valued at approximately $37.2 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.

About Berkshire Hathaway (www.berkshirehathaway.com):

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. Berkshire Hathaway’s common stock is listed on the New York Stock Exchange, trading symbols BRK.A and BRK.B.

About Precision Castparts Corp. (www.precast.com):

Precision Castparts Corp. is a worldwide, diversified manufacturer of complex metal components and products. It serves the aerospace, power, and general industrial markets. PCC is a market leader in manufacturing complex structural investment castings and forged components for aerospace markets, machined airframe components, and highly engineered, critical fasteners for aerospace applications, and in manufacturing airfoil castings for the aerospace and industrial gas turbine markets. PCC also is a leading producer of titanium and nickel superalloy melted and mill products for the aerospace, chemical processing, oil and gas, and pollution control industries, and manufactures extruded seamless pipe, fittings, and forgings for power generation and oil and gas applications.

Cautionary Statement Regarding Forward-Looking Statements

Statements in this press release about the future expectations, beliefs, goals, plans or prospects of the board or management of Precision Castparts Corp. constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words “expects,” “intends,” “anticipates,” “estimates,” “predicts,” “believes,” “should,” “potential,” “may,” “forecast,” “objective,” “plan,” or “targets,” and other similar expressions) are intended to identify forward-looking statements. There are a number of factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including: the potential impact of the consummation of the proposed transaction on relationships, including with employees, suppliers, customers and competitors; and the other factors and financial, operational and legal risks or uncertainties described in Precision Castparts Corp.’s Annual Report on Form 10-K for the year ended March 29, 2015. Berkshire Hathaway and Precision Castparts Corp. disclaim any intention or obligation to update or revise any forward-looking statements as a result of developments occurring after the date of this document except as required by law.

In addition, please refer to the documents that Precision Castparts Corp. files with the SEC on Forms 10-K, 10-Q and 8-K. These filings identify and address other important factors that could cause Precision Castparts Corp.’s operational and other results to differ materially from those contained in the forward-looking statements set forth in this document.


ę Business Wire 2016
All news about PRECISION CASTPARTS CORP.
2016PRECISION CASTPARTS : Berkshire Hathaway Completes Acquisition of Precision Castparts
BU
2016Berkshire Hathaway Completes Acquisition of Precision Castparts
GL
2016PRECISION CASTPARTS : Berkshire Hathaway Acquisition of Precision Castparts to Close on Fr..
BU
2015PRECISION CASTPARTS CORP. : Ex-dividend day for
FA
2015Buffett's Berkshire cuts crisis-era Goldman stake
RE
2015Buffett not selling stocks as a result of Paris attacks - CNBC
RE
2015WARREN BUFFETT : Cnbc
RE
2015PRECISION CASTPARTS : Second quarter fiscal 2016 earnings
PU
2015Precision Castparts Declares Dividend at Quarterly Board Meeting
GL
2015WARREN BUFFETT : Berkshire profit doubles to record on Kraft Heinz
RE
More news
Analyst Recommendations on PRECISION CASTPARTS CORP.
More recommendations
Managers and Directors
Mark Donegan President, CEO, COO & Director
Shawn Rene Hagel Chief Financial Officer & Director
Byron J. Gaddis Chief Information Officer & Vice President
Ruth Ann Beyer Secretary, Director, SVP & General Counsel
Warren Edward Buffett Director