Berkshire buying Duracell from P&G in $3B deal

[Omaha Steve]

Source: AP-EXCITE

OMAHA, Neb. (AP) — Warren Buffett's Berkshire Hathaway Inc. is buying the Duracell battery business from Procter & Gamble Co. in a deal valued at approximately $3 billion.

P&G will receive shares of its own stock that is currently held by Berkshire Hathaway. Those shares are currently valued at about $4.7 billion. P&G will contribute about $1.7 billion to Duracell as part of the deal.

The deal is expected to close in the second half of 2015.


Read more: http://apnews.excite.com/article/20141113/us-berkshire-hathaway-duracell-0a04c0972f.html