Berkshire Hathaway (BRK.A) Buys $4.5B Stake In Marmon Holdings
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Warren Buffett's Berkshire Hathaway (NYSE: BRK.A) announced it will be buying a 60% stake in Marmon Holdings, a conglomerate with nearly 100 manufacturing and servicing companies. The majority stake will cost Buffett and Berkshire Hathaway about $4.5 billion, with the final price being determined based on Marmon's future performance.
With annual revenues of $7 billion in 2006, Buffett called the deal its largest ever acquisition outside of the insurance industry. As big as the deal may be, the $4.5 billion purchase is only a slice of Bershire's $47 billion in cash on hand, and investors and Berkshire shareholders are already speculating that Buffett could make an even larger acquisition sometime during 2008.
With annual revenues of $7 billion in 2006, Buffett called the deal its largest ever acquisition outside of the insurance industry. As big as the deal may be, the $4.5 billion purchase is only a slice of Bershire's $47 billion in cash on hand, and investors and Berkshire shareholders are already speculating that Buffett could make an even larger acquisition sometime during 2008.
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