Investor Warren Buffett has made his first venture into the coatings manufacturing industry with a bid to acquire the owner of one of the oldest and best-known brands in the architectural paint business — Benjamin Moore & Co.
OMAHA, NE — Investor Warren Buffett, reported to be one of the world’s wealthiest individuals, has made his first venture into the coatings manufacturing industry with a bid to acquire the owner of one of the oldest and best-known brands in the architectural paint business — Benjamin Moore & Co. of Montvale, NJ.
Benjamin Moore and Buffett’s Berkshire Hathaway Inc. announced a definitive merger agreement, valued at approximately $1 billion, under which a wholly owned subsidiary of Berkshire Hathaway has submitted a cash tender offer of $37.82 per share for the outstanding common stock of Benjamin Moore, with the tender offer commencing on Nov. 17.