Berkshire Hathaway, the conglomerate headed by billionaire investor Warren Buffett announced plans to buy 60% of manufacturing and services group Marmon Holdings for $4.5 billion.
Privately held Marmon is an international group of more than 125 businesses in sectors including cable, transportation services and industrial products. Its collective revenue totals about $7 billion. Berkshire Hathaway said it will acquire the remaining 40% through staged acquisitions over a five to six year period of consideration to be based on Marmon's future earnings.
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