Buffett Spends $2B For Rest Of International Metalworking

Law360, New York (May 1, 2013, 1:09 PM EDT) -- Warren Buffett's Berkshire Hathaway Inc. said Wednesday it would pay $2 billion for the slice of Israeli toolmaker International Metalworking Cos. BV that it doesn't already own, announcing the deal days before Berkshire's widely anticipated annual shareholders meeting in Nebraska.

The transaction values IMC at more than $10 billion, double its valuation in 2006, when Buffett bought 80 percent of the company — at the time, one of the largest takeovers of an Israeli company. Buffett will buy out the remaining interests of the Wertheimer family,...
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