Acquisition Update - Report on Berkshire Hathaway

NEW YORK, September 15, 2015 /PRNewswire/ --

ACI Association has initiated research coverage on Berkshire Hathaway Inc. (NYSE: BRK.A). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.

Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/reports?keyword=BRK.A

Highlights from our BRK.A Report include:

• Acquisition of all the outstanding shares - On August 10, 2015, Berkshire Hathaway Inc. announced that the Boards of Directors of Berkshire Hathaway Inc. and Precision Castparts Corp. (PCC) have unanimously approved a definitive agreement for Berkshire Hathaway to acquire all the outstanding shares of Precision for $235 per share in cash. The Company informed that the transaction is valued at approximately $37.2 billion, including outstanding PCC's net debt. The transaction would require approval by a majority of Precision's outstanding shares. Furthermore, closing is expected to occur during the first quarter of calendar 2016, subject to customary closing conditions, including clearance under the Hart-Scott-Rodino Act and competition clearance in certain foreign jurisdictions. The release noted that Precision will continue to do business around the world under the Precision Castparts name and maintain its headquarters in Portland, Oregon.

• Update on Precision's Board of Directors and its Annual Meeting - At the recently held Annual Meeting of Shareholders the Company submitted proposals to a vote of the shareholders. The meeting saw the shareholders vote in favor of appointment of Mark Donegan, Don R. Graber, Lester L. Lyles, Vernon E. Oechsle, Ulrich Schmidt, Richard L. Wambold and Timothy A. Wicks. The shareholders also voted in favour of the appointment of Deloitte & Touche LLP as independent registered public accounting firm for the year ending April 3, 2016.

• Management Speak - Warren E. Buffett, Berkshire Hathaway Chairman and CEO said that he's admired PCC's operation for a long time and believes that supported by good reasons it is the supplier of choice for the world's aerospace industry, one of the largest sources of American exports. He added that Berkshire's Board of Directors is proud that PCC will be joining Berkshire. Mark Donegan, PCC's CEO and Chairman said that the management was very pleased to be joining forces with Berkshire Hathaway. He added that the management sees unique alignment between Warren's management and investment philosophy and how they manage PCC for the long-term. He concluded by saying that the transaction offers compelling and immediate value for the Company's shareholders, and allows PCC's employees to continue to operate in the same manner that has generated many years of exceptional service and performance to its customers.

To find out how this influences our rating on Berkshire Hathaway Inc. read the full report in its entirety here: http://www.aciassociation.com/reports?keyword=BRK.A

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