Berkshire to Buy 80% of Iscar
Berkshire Hathaway Inc., Omaha, NE, has agreed to pay about $4 billion to acquire 80 percent of Iscar Ltd., a global metal cutting-tools manufacturer based in Tefen, Israel. The Wertheimer family, IMC's current shareholders, will own the remaining 20 percent.
The Iscar Metalworking Companies is a privately held group in the metal cutting tools business through its Iscar, TaeguTec, Ingersoll and other IMC group companies. IMC's current management team will continue to run the company; the company will remain headquartered in Tefen, Israel, but is now ...