According to an article on Global Fastener News today, word is floating around that investment mogul Warren Buffet is on the verge of acquiring industrial giant ITW.
Here is the full story:
So while Buffet himself hasn’t said anything about the “possible” acquistion, it seems like someone close to him was providing the info.
Hmmm, does that seem a little fishy to anyone else?
Buffet plays his cards notoriously close to his chest, so if this info is out there and has “leaked” the first question is, why?
Buffet is a smart man and info doesn’t just “leak” out unless he wants it to.Â This makes me think that either he is testing the water to see how the stock responds to the news or perhaps he already has shares in ITW and wants them to go up.
Ultimately, no one really knows.
What we do know is that if Buffet does make this move it would make perfect sense. Acquiring ITW would make sense because he would basically be feeding a modern, super efficient manufacturing machine with the MRO supplies that they need.
From that perspective at least, it seems to be in line with Buffet’s philosophy.