Berkshire Hathaway Inc. (NYSE:BRK.A) announced that the company has purchased 20 million shares of Axalta Coating Systems (NYSE:AXTA) for $560 million. Axalta recently went public in October of 2014 after being purchased by Carlyle for $4.9 billion. Carlyle quickly exited from the company, selling over 50 million shares and tripling its investment.
Axalta provides coatings in a variety of markets, including: automotive, locomotive and lighting. While the company has just been added to the stock market, Axalta is a 145-year old business known primarily for their automotive coatings. The company’s stock price is at $30 a share and is up over 50%...
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