OMAHA, Neb. & PORTLAND, Ore., Jan. 29, 2016 (GLOBE NEWSWIRE) — Berkshire Hathaway Inc. (“Berkshire”) (NYSE:BRK.A) (NYSE:BRK.B) and Precision Castparts Corp. (“PCC”) (NYSE:PCP) today announced the completion of the acquisition of PCC for $235 per share in an all-cash transaction. The transaction having been approved by PCC shareholders and having met all U.S. and non-U.S. regulatory filing requirements, is valued at approximately $37.2 billion, including outstanding PCC net debt. The transaction was announced on August 10, 2015.

With the closing of this transaction, PCC is now a wholly-owned subsidiary of Berkshire. PCC’s headquarters remain located in Portland, Oregon and the company continues to be led by Mark Donegan.