By Chelsey Dulaney
Warren Buffett’s Berkshire Hathaway Inc. on Monday said it agreed to buy Precision Castparts Corp. for about $32 billion in what would be the conglomerate’s largest takeover ever.
The offer of $235 a share is a 21% premium to Precision’s closing price of $193.88 a share on Friday. Including debt, the deal is valued at $37.2 billion.
At that size, the deal would rank as Berkshire’s /zigman2/quotes/200060694/composite BRK.B +0.08% largest ever and represent the latest megamerger in a robust year for deal making.
The deal was first reported by The Wall Street Journal on Saturday.
Portland-based Precision Castparts, which had a market value of nearly $27 billion as of Friday’s close, supplies parts such as fasteners and turbine blades to aircraft makers and makes pipes and other equipment for power stations and the oil-and-gas industry.
An expanded version of this report appears at WSJ.com.