A few days ago Warren Buffet regretted the disappointing stock market performance of his Berkshire Hathaway but today he has some new reason to rejoice: paying out 37,2 billion dollars (including debt) he made his biggest acquisition ever, buying Precision, a publicly listed Oregon company that produces components for the aerospace and oil industries.
To win Precision, the Omaha-based oracle paid 21% more than the aerospace and oil and gas components company's stock price. The operation, which has already received the go-ahead from the two boards, must now be approved by the regulatory authorities.
Buffett's is one of the biggest deals of the year in the merger and acquisition that has recovered after the peak of 2007 and now Berkshire hopes to be rewarded on the stock exchange too.
