Berkshire Hathaway To Buy Duracell For $4.7 Billion
The deal is expected to close in the second half of 2015, with Procter & Gamble receiving $4.7 billion in Berkshire Hathaway stock. Berkshire currently owns nearly 53 million shares of Procter & Gamble, making it the fifth-largest shareholder.
Warren Buffett, the renowned CEO of Berkshire, feels that Duracell will fit well in the Berkshire Hathaway portfolio. Procter & Gamble hinted in October that it was looking to sell Duracell as part of its plan to shed slower growing brands to focus on growth.
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