'Practical World' True News Magazine by American Road Radio

'Practical World' True News Magazine by American Road Radio
True News about Health,Politics and War

Warren Buffett's company is buying Duracell for $6.4 billion

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.
After all, 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.
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