Berkshire Hathaway acquired CTB International Corp. for ~$180 million, a transaction completed in October 2002, structured as Cash merger; subject to CTB shareholder approval and regulatory clearance (holders of more than 55% of shares agreed to vote in favor)..
CTB International Corp. operates in Manufacturing (agricultural equipment and systems), is based in United States, Europe and Latin America (headquartered in Milford, Indiana). Berkshire Hathaway signed a definitive merger agreement to acquire CTB International Corp., a worldwide leader in equipment and systems for the poultry, hog, egg-production and grain industries. CTB shareholders received $12.75 per share in cash, and the total transaction value, including about $40 million of assumed debt, was roughly $180 million. CTB became a wholly owned Berkshire subsidiary, headquartered in Milford, Indiana.
A strong company with an excellent franchise and strong market share in a basic industry; Berkshire provides improved access to capital for long-term growth.
Advisory firms were not disclosed for this transaction.