NEW YORK (TheStreet) -- Shares of Berkshire Hathaway Inc. (BRK.B) are up 0.43% to $146.14 in midday trading Thursday, after the company said it is acquiring Procter & Gamble Co's (PG) Duracell battery business in exchange for its $4.7 billion stake in the company, Reuters reports.
Warren Buffet's Berkshire owned about 52.8 million shares of P&G as of June 30, or a stake of about 1.9% worth $4.7 billion as of the end of trading session Wednesday, Reuters added.
The world's biggest household products maker P&G has been in the midst of selling about half of its slow growing brands, and said it would add about $1.8 billion in cash into Duracell before the transaction.
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Separately, TheStreet Ratings team rates BERKSHIRE HATHAWAY as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate BERKSHIRE HATHAWAY (BRK.B) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, attractive valuation levels, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."