Berkshire Hathaway Acquisition of Precision Castparts to Close on Friday, January 29, 2016
January 25 2016 - 3:01PM
Business Wire
Final regulatory approvals received
Berkshire Hathaway Inc. (“Berkshire”) (NYSE: BRK.A; BRK.B) and
Precision Castparts Corp. (“PCC”) (NYSE: PCP) expect Berkshire’s
acquisition of PCC to close on Friday, January 29, 2016. The
appropriate waiting periods (including extensions thereof) have
expired or been terminated and the appropriate clearances or
approvals have been granted (or deemed granted in accordance with
relevant law) in the necessary jurisdictions.
About Berkshire Hathaway
(www.berkshirehathaway.com):
Berkshire Hathaway and its subsidiaries engage in diverse
business activities including insurance and reinsurance, utilities
and energy, freight rail transportation, finance, manufacturing,
retailing and services. Berkshire Hathaway’s common stock is listed
on the New York Stock Exchange, trading symbols BRK.A and
BRK.B.
About Precision Castparts Corp.
(www.precast.com):
Precision Castparts Corp. is a worldwide, diversified
manufacturer of complex metal components and products. It serves
the aerospace, power, and general industrial markets. PCC is a
market leader in manufacturing complex structural investment
castings and forged components for aerospace markets, machined
airframe components, and highly engineered, critical fasteners for
aerospace applications, and in manufacturing airfoil castings for
the aerospace and industrial gas turbine markets. PCC also is a
leading producer of titanium and nickel superalloy melted and mill
products for the aerospace, chemical processing, oil and gas, and
pollution control industries, and manufactures extruded seamless
pipe, fittings, and forgings for power generation and oil and gas
applications.
Cautionary Statement Regarding Forward-Looking
Statements
Statements in this press release regarding the proposed
transaction, the expected timetable for completing the proposed
transaction, future financial and operating results, future capital
structure and liquidity, benefits and synergies of the proposed
transaction, future opportunities for the combined company, general
business outlook and any other statements about the future
expectations, beliefs, goals, plans or prospects of the board or
management of Precision Castparts Corp. constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Any statements that are not statements of
historical fact (including statements containing the words
“expects,” “intends,” “anticipates,” “estimates,” “predicts,”
“believes,” “should,” “potential,” “may,” “forecast,” “objective,”
“plan,” or “targets,” and other similar expressions) are intended
to identify forward-looking statements. There are a number of
factors that could cause actual results or events to differ
materially from those indicated by such forward-looking statements,
including: the ability to consummate the proposed transaction; the
satisfaction of the conditions to the consummation of the proposed
transaction; the potential impact of the consummation of the
proposed transaction on relationships, including with employees,
suppliers, customers and competitors; and the other factors and
financial, operational and legal risks or uncertainties described
in Precision Castparts Corp.’s Annual Report on Form 10-K for the
year ended March 29, 2015. Berkshire Hathaway and Precision
Castparts Corp. disclaim any intention or obligation to update or
revise any forward-looking statements as a result of developments
occurring after the date of this document except as required by
law.
In addition, please refer to the documents that Precision
Castparts Corp. files with the SEC on Forms 10-K, 10-Q and 8-K.
These filings identify and address other important factors that
could cause Precision Castparts Corp.’s operational and other
results to differ materially from those contained in the
forward-looking statements set forth in this document.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160125006493/en/
Berkshire Hathaway Inc.Marc D.
Hamburg, 402-346-1400Chief Financial Officer and Senior Vice
PresidentorPrecision Castparts
Corp.Jay Khetani, 503-946-4700Vice President, Investor
Relations
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