News Summary: Berkshire Hathaway snags rest of IMC

News Summary: Berkshire Hathaway pays $2.05 billion for last 20 percent of tool maker IMC

Associated Press

BUFFETT BUYS: Investor Warren Buffett's Berkshire Hathaway will pay $2.05 billion for the 20 percent of IMC International Metalworking that it didn't already own.

PRETTY PRICE: Back in 2006 Berkshire paid $4 billion for the first 80 percent of the Israeli tool-making company. Buffett said Wednesday's higher value reflected the company's growth in seven years.

ON SAFARI: Buffett told Berkshire shareholders last month that he and chairman Charles Munger had cash and were looking for big deals — a "search for elephants," he called it.

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