Berkshire Hathaway to acquire the Duracell Brand from Proctor & Gamble (PG)

Berkshire will finance the acquisition of Duracell from Proctor & Gamble by paying with $4.7 Billion in P&G stock that it owns.

In a statement, Berkshire outlined the deal as follows:

“In exchange for a recapitalized Duracell Company, which will include approximately $1.7 billion in cash at closing, P&G will receive shares of P&G’s common stock currently held by Berkshire Hathaway having a current value of approximately $4.7 billion.”

Warren Buffet went on to say:

“I have always been impressed by Duracell, as a consumer and as a long-term investor in P&G and Gillette,” commented Warren Buffett, CEO of Berkshire Hathaway. “Duracell is a leading global brand with top quality products, and it will fit well within Berkshire Hathaway.”

Read the full story here: http://americasmarkets.usatoday.com/2014/11/13/buffett-snaps-up-duracell-from-pg/