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Buffett deal is his largest ever

Buffett deal is his largest ever

Billionaire Warren Buffett on Monday unveiled the biggest acquisition yet in the famed investor's career, one that will affect a sizable chunk of Southern California's aerospace industry. Berkshire Hathaway Inc., Buffett's diversified holding company based in Omaha, agreed to pay $32 billion in cash for Precision Castparts Corp., which makes parts and equipment for aircraft, power plants and other industrial uses. Precision Castparts' operations include nearly 30 facilities with a combined 5,000 employees in Southern California, thanks in part to a string of acquisitions in recent years. In a memo to its workforce, Precision Castparts said there were “no plans to...

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