3.06pm BST

The day began with hopes of a Greek debt breakthrough but, as the history of these debt talks shows, there’s a long way to go between the germ of a deal and the signing on the dotted line.

What is certain, for sure, is that Warren Buffett’s Berkshire Hathaway, is on its way to consummating its record takeover, a $37bn bid for an aerospace parts supplier. The sage of Omaha has been busy justifiying the high multiple he is paying for that not so well known company, Precision Castparts.

2.05pm BST

Warren Buffett has revealed details on CNBC of his company’s $37bn takeover of Precision Castparts, which is not exactly a household name. And he’s admitted that he’s paying a “very high multiple” for the aerospace industry supplier.

Buffett told CNBC’s Squawk Box he made a bid for Precision during the Allen & Co. Sun Valley conference last month.

This is right up there at the top of expensive deals. This a very high multiple for us to pay,” said Buffett.

One of Warren Buffett’s biggest deals, for a company you may never have heard of http://t.co/7sbZ0e3Kee

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Source: The Guardian Circular Economy RSS