Buffett Goes Borderless
After all that speculation about various U.S. takeover targets, Warren Buffett’s Berkshire Hathaway is buying 80% of Iscar Metalworking Cos, an Israeli firm. In WSJ, the Sage of Omaha says:
“We are delighted to partner with the Wertheimer family and IMC’s current management, led by Eitan Wertheimer and Jacob Harpaz,” Mr. Buffett said in a statement. “As a truly international business, IMC is a top performer in its industry, with exposure to European, Asian and Latin American markets, as well as significant opportunities for growth as it continues to penetrate the North American market.”
Hopefully we will get some insight into Buffett’s views on global investing in the next few days as he elaborates on this deal at Berkshire’s annual meeting festivities, which start tomorrow. A collection of Buffett’s previous shareholder letters (dating back to 1977) can be found here.









