It's the breaking news on CNBC this morning: Dow Chemical is buying Rohm & Haas with the aid of Berkshire Hathaway and the Kuwaity Investment Authority (KIA) for a whopping $18.8 billion. What's most amazing about this deal are some of the ancillary statistics. Mr. Warren Buffett has only been in Sun Valley for one day and already helps close a multi-billion dollar deal. Moreover, the deal places an incredible 60% premium on Rohm & Haas, which only goes to support Mr. Buffett's age-old-saying that when he has the opportunity to make a good investment, he does it ...apparently, at any price.
The Lodge at Sun Valley 2008 has become the focus of all the world's financial media and there are more deals cooking, to be sure. While no one would be surprised if Mr. Buffett surfaces with an involvement in yet another deal, another hot topic is the discussions on-going between Larry Page of Google, Sue Ducker of Yahoo!, Bill Miller of Legg Mason (one of the largest investors in Yahoo! via various investment funds) and even Terry Semel, the ousted former chief of Yahoo!. To be a fly on that wall!
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