Be the most informed person in the room with Newsy's free e-newsletter

View our privacy policy: http://www.newsy.com/privacy/

Warren Buffett Makes $37 Billion Berkshire Hathaway Purchase

Buffett has acquired Precision Castparts Corp., a company that makes metal equipment, in one of Berkshire Hathaway's priciest acquisitions ever.
SMS

Warren Buffett has agreed to another giant acquisition for Berkshire Hathaway –– Precision Castparts Corp. for roughly $37 billion. 

Precision Castparts makes metal equipment for the aerospace and energy industries.

According to the deal, Buffett's firm will purchase Precision Castparts' shares in cash at a price 21 percent more than its Friday closing value.  

Precision seems to be another characteristic success for Buffett's value investment style. 

The company has swung up and down over the past 14 years, at times ranking seventh on the Standard & Poor's 500 and at others underperforming that same metric by nearly 30 percent.

An analyst told The Wall Street Journal Precision is a good fit for Berkshire Hathaway because "their job is to help other businesses succeed much like a railway or energy company or a grocery distributor."

This deal is the latest in a recent streak of mega-mergers by corporations across the country, with 21 mergers and acquisition deals being valued at over $10 billion so far in 2015. (Videos via ShellBloomberg and Verizon)

This video includes images from Getty Images and music by Birocratic / CC by ND 3.0.

Featured Stories
Thousands gather for the women's march in D.C.

A Look At Some Of The Women's Marches Around The Globe

Photos of women who are going to the Women's March on Washington

Here's What You Need To Know About The Women's March On Washington

A woman holds up signs at Donald Trump's inauguration.

Donald Trump Is Making America Protest Again

Want to see more stories like this?
Like Newsy on Facebook for More Stock Market Coverage