Encomium
Investment guru and third wealthiest man in the world, Warren Buffet is once again showing his investing genius as his company, Berkshire Hathaway is set to purchase Duracell from its makers (Procter and Gamble).
The 84-year-old said in a statement: “I have always been impressed by Duracell, as a consumer and as a long-term investor in P&G and Gillette”.
Berkshire said that, under the terms of the Duracell deal, P&G would receive shares of its own stock that are currently held by Berkshire Hathaway, resulting in a net purchase price of $3 billion (N498bn).
