What does the market seem to be saying about Berkshire Hathaway's acquisition of PCP?
The market ascribed $4.05 billion less value to Berkshire Hathaway after the announced acquisition than before it. At the same time, the value of PCP jumped more than $5 billion, close to 20% of the market value of the firm. The market seemed to be saying that Buffett and Berkshire had overpaid for the business.
What is PCP stock price?
234.95Key Turning Points52-Week High234.99Last Price234.95Fibonacci 61.8%216.66Fibonacci 50%210.99Fibonacci 38.2%205.331 more row•Jan 29, 2016
Did Berkshire Hathaway overpay for PCP?
Berkshire is paying $235 per share for Precision Castparts, which represents a 21.2 percent premium over Friday's closing price, and 17.5 times projected 12-month profit. It valued Precision Castparts at $37.2 billion including debt.
How is Precision Castparts doing?
Precision Castparts eliminated more than 13,000 jobs worldwide in 2020 as sales tanked. Precision Castparts makes heavy metal components for aircraft, generators and other heavy industry. It was Oregon's second-most-valuable company at the time of its $37 billion sale in 2016.
Is PCC a Fortune 500 company?
Portland, Ore. -based Precision Castparts manufactures metal components and products for companies in the aerospace and defense industries....Company Info.CEOMark DoneganWebsitehttp://www.precast.comYears on Fortune 500 List9Employees30,1063 more rows
How much did Buffett pay for Precision Castparts?
$37.2 billionWarren Buffett said over the weekend that he “paid too much” when Berkshire Hathaway Inc. (NYSE: BRK/A) acquired Portland-based Precision Castparts Corp. for $37.2 billion in 2016.
How much did Berkshire pay for precision cast?
$32.1 billionThe 90-year-old billionaire on Saturday admitted he “paid too much” when his Berkshire Hathaway Inc spent $32.1 billion in 2016 to buy aircraft and industrial parts maker Precision Castparts Corp, its largest acquisition.
Is Precision Castparts publicly traded?
In 1968 Precision Castparts became a public company with the offering 120,000 shares of common stock to 1,100 new shareholders.