August 10, 2015 -- The boards of directors of Berkshire Hathaway Inc. and Precision Castparts Corp. ("PCC") have unanimously approved a definitive agreement for Berkshire Hathaway to acquire, for $235 per share in cash, all outstanding PCC shares. The transaction is valued at approximately $37.2 billion, including outstanding PCC net debt. Cravath, Swaine & Moore LLP is representing PCC in connection with this transaction.

The Cravath team is being led by partners Faiza J. Saeed and George F. Schoen and includes associates Wesley C. Bell, Allison M. Wein and Christine H. Liu (M&A); partner Eric W. Hilfers and senior attorney Lawrence A. Pasini (executive compensation and benefits); partner Christopher K. Fargo (tax); and partner Christine A. Varney, practice area attorney Robin C. Landis and associate Jesse M. Weiss (antitrust).