Warren Buffett’s deal for Axalta could impact public pensions

April 7, 2015 3:55 PM

66 0

Berkshire Hathaway BRK.A this morning announced that it will purchase an 8.7% stake in Axalta Coating Systems Ltd. AXTA from The Carlyle Group CG via a private placement. The deal is valued at $560 million, or $28 per share (Axalta stock closed trading yesterday at $28.33).

Axalta is the former auto paints business of DuPont DD , which Carlyle originally purchased for $4.9 billion in 2013 before taking it public last November at $19.50 per share. Carlyle holds a 74.1% stake (prior to the Berkshire deal), but recently filed to sell 40 million shares via a secondary offe...

Read more

To category page