Berkshire to buy P&G's Duracell in stock swap
Warren Buffett's firm will turn over US$4.7b of P&G shares it holds
New York
BERKSHIRE Hathaway Inc has agreed to buy the Duracell battery business from Procter & Gamble Co (P&G) in a stock swap as chairman Warren Buffett narrows his company's equity portfolio and extends a bet on operating businesses.
Berkshire will turn over US$4.7 billion of P&G shares held by Mr Buffett's Omaha, Nebraska-based company, according to a statement.
Duracell will have …
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Cutting the cord?: Events leading up to Cordlife’s MOH suspension and arrests of its directors, ex-group CEO
Billionaires selling cheap stuff get richer from inflation pain
Amazon to push cashierless shopping tech into more third-party stores, while backing off itself
Japan’s Uniqlo opens Rome store as part of European expansion
Abbott beats quarterly profit estimates on strong medical device sales
Adidas shares surpass two-year high as 'terrace' sneaker trend boosts brand heat