Buffett To Buy $4.5B Stake In Marmon

New York Times:

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.

Read the whole story: New York Times

Comments

[mamacat]

Overlooked in this discussion is Mr. Buffett's recent signifigant investment in railroads. Although he does not own a majority interest in Santa Fe RailRoad, I think he could justify asking for a seat on the board of directors, if he so chose.

[ohiomark]

No wonder Buffett wants higher taxes. He wants companies to lose money so he can swoop in and buy them and then turn around and sell them later for a huge profit.

I know you Libs hate the word "profit", but that's what Buffett is all about.

[wadenelson1]

You can't buy a religion that big. Maybe a small one, like Scientology.

Besides, how would he move those temples? And the tabernacle choir? Where would he put them.

Nevermind.