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On Friday evening, billionaire investor Warren Buffett, the founder of Berkshire Hathaway, disclosed that he had purchased a massive stake in oil refinery Phillips 66 (PSX).

Although Rosenstein is the biggest new stake holder in the stock, but it is not the sole member who came in at a time when the company’s stock price was falling.

The transaction has many traits of a typical Buffett deal: he already owned a minority stake in Precision; he is a big believer in nuts-and-bolts industrial groups; and the company’s share price had come under pressure, falling by about a tenth.

To do that, Page and co-founder Sergey Brin are planning to give Google a new parent company called Alphabet.

As it has grown, the sprawling industrial empire Berkshire Hathaway, with holdings in railroads, insurance, retail and manufacturing, has increasingly looked to strike enormous takeovers in order to lift profit and revenue.

“Google is not a conventional company“.

Warren Buffett’s Berkshire Hathaway on Monday agreed to buy Precision Castparts for about 37.2 billion U.S. dollars, which would be the conglomerate’s largest takeover ever.

“Our company is operating well today, but we think we can make it cleaner and more accountable”, Page said on Google’s public relations Web site. Page said he’ll be CEO of the new holding company, while longtime Google executive Sundar Pichai will become...

The company, which Berkshire Hathaway purchased for $37 billion in a transaction confirmed this morning, employs more than 2,900 people in the metro region.

Precision Castparts’ shares jumped as much as 19.3 per cent to US$231.25, while Berkshire Class B shares fell 1.4 per cent to US$141.60.

Warren Buffett’s Berkshire Hathaway has made its biggest ever investment and is betting on the success of American aircraft and energy parts manufacturer Precision Castparts in a deal worth $37.2 billion.

The Buffett effect: Shares in airplane parts manufacturer Precision Castparts are rising by about 13% premarket on expectations that Warren Buffett’s firm Berkshire Hathaway is set to buy the company. Precision’s market value is now $26.7 billion as of the close of...

The company generates about half its annual sales of US$10 billion from big aircraft and engine makers. Precision Castparts embodies qualities that Buffett seeks, with high barriers to entry by competitors, a business that demands a long-term outlook, and a stock that has...

If you add up the investment income and the operating income from the conglomerate structure, Berkshire Hathaway made $4.01 billion in net earnings – down from $6.395 billion a year earlier. Profit at the business increase 4% to $963 million as the company invested billions...

Companywide, revenue climbed climbed 3.2% to $51.4 billion, with $5.4 billion from Burlington Northern, the railroad that Buffett bought in 2010 as an “all-in” bet on the U.S. economy.