FX.co ★ Buffett’s Berkshire Hathaway to buy P&G’s Duracell

Berkshire Hathaway Inc just announced it would acquire the Duracell brand of batteries from Procter & Gamble. The deal is expected to close in the second half of 2015. The deal valued Duracell at $6.4 billion. Rather than pay cash, Berkshire will give P&G $4.7 billion of the shares it now owns. Besides, P&G is committed to inject $1.8 billion in cash into Duracell’s development.
According to FactSet, this multi-billion dollar deal made Buffett’s holding the fifth-largest shareholder in Procter & Gamble. "I have always been impressed by Duracell, as a consumer and as a long-term investor in P&G and Gillette," Berkshire Hathaway CEO Warren Buffett said. "Duracell is a leading global brand with top-quality products, and it will fit well within Berkshire Hathaway."
Duracell has been one of the most sizable Procter & Gamble’s assets. Late October, it revealed its plans to streamline its business and split up Duracell as a separate company.