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Berkshire Hathaway, the conglomerate owned by billionaire Warren Buffett, is close to a deal that may be its largest acquisition ever, according to a report in Saturday's Wall Street Journal.
Berkshire has its eyes on Precision Castparts, a maker of aircraft equipment, The Journal reported, citing unnamed sources. Berkshire already owns 3 percent of the company, and is its largest shareholder. Based on Precision's closing price on Friday, a merger could break $30 billion, the publication added.
A deal could be announced as soon as next week, sources told the WSJ.
Founded in 1949, Portland–based Precision makes components such as fasteners and turbine blades for aircraft companies including Airbus and Boeing, and has annual sales of $10 billion. It also makes equipment for power stations and the oil-and-gas industry.
Berkshire said on Friday second-quarter profit fell 37 percent, reflecting a significant decline in investment gains and an underwriting loss from insurance.
The full report can be found on The Wall Street Journal's website (subscription may be required).
--Reuters contributed to this article.