Warren Buffett's Company is Buying Duracell for $6.4 Billion

Last Month, Procter & Gamble Decided that, it Wanted Out of the Battery Game and was Selling Duracell to the Highest Bidder. Today, a Surprising Figure has Emerged as the Buyer: America's Richest Man, Warren Buffett. According to the Release, Berkshire Hathaway (Buffett's Company) will Spend around $1.7 Billion in Cash and will Swap Stock Worth around $4.7 Billion in Order to Own the Power Outfit. Afterall, as Devices with Built-In, Rechargeable Batteries Rise in Prominence, the Need to Buy Expensive AAAs from the Store is Decreasing. Still, Buffett's Got a Track Record of Making Savvy Investments - so, perhaps this is Time for a Corporate Reinvention that P&G Couldn't, or Didn't Want to, Implement.




Info Sources:

http://www.businesswire.com/news/home/20141113005259/en/Berkshire-Hathaway-Acquire-Duracell-Battery-Business-Procter#.VGTCbdbsAUQ

http://www.businessinsider.com/berkshire-hathaway-acquiring-duracell-2014-11?IR=T