Practical World True News Magazine

Practical World True News Magazine
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Practical World True News Magazine

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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