Buffett to buy Marmon Wednesday, December 26, 2007
Posted by ei-forum in Miscellaneous.trackback
Whilst others where enjoying their Christmas dinners, Warren Buffett was finalizing his latest deal! And in true Buffett style, no consultants and no studies.
Marmon Chairman Thomas Pritzker told the NYTimes “…we delivered a phone book-size document describing Marmon, literally at his plane. He read it on the plane going back to Omaha. He landed and called … we have a deal.”
Berkshire will buy a 60% percent stake in Marmon Holdings which is the industrial holding firm owned by the wealthy Pritzker family, for $4.5 billion with the goal of eventually owning the entire firm.
Buffett is scheduled for a live interview on CNBC at around 08.45 on Squawk Box.
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