03/28/2008 02:45 am ET | Updated May 25, 2011

Buffett To Buy $4.5B Stake In Marmon

Berkshire Hathaway, the firm controlled by Warren E. Buffett, said Tuesday that it would pay $4.5 billion for a controlling stake in Marmon Holdings, an industrial conglomerate owned by the Pritzker family, the prominent Chicago business dynasty.

The deal would go a long way toward unwinding the business interests of the Pritzkers, a process the family began in 2001. For Mr. Buffett, the deal represents his largest acquisition outside the insurance industry and suggests that he is acting on his stated desire to make more deals with the tens of billions in cash that Berkshire has been husbanding for years.

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