European Commission - Daily News
Brussels, 6 January 2016
The European Commission has approved under the EU Merger Regulation the acquisition of Precision Castparts Corp., of the US, by Berkshire Hathaway Inc., also of the US.
Berkshire Hathaway is a holding company owning subsidiaries engaged in a number of diverse business activities. Precision Castparts Corp. is a manufacturer of complex metal components and products.
The Commission concluded that the proposed acquisition would not raise competition concerns given the absence of horizontal overlaps and the limited vertical relationships between the activities of the two companies. The transaction was examined under the normal merger review procedure. More information is available on the Commission's competition website, in the public case register under the case number M.7827.
(For more information: Lucía Caudet – Tel. +32 229 56182; Carolina Luna Gordo – Tel.: +32 229 68386)
Source: Europa.eu (Copyright European Commission)