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Buffett's Berkshire gets nod for Industrial Insulation deal
July 31, 2012 / 5:44 PM / 5 years ago

Buffett's Berkshire gets nod for Industrial Insulation deal

(Reuters) - Warren Buffett’s Berkshire Hathaway (BRKa.N) has received U.S. antitrust approval for a transaction with Industrial Insulation Group LLC, the Federal Trade Commission said on Tuesday.

Berkshire Hathaway CEO Warren Buffett attends the Allen & Co Media Conference in Sun Valley, Idaho July 12, 2012. REUTERS/Jim Urquhart

Industrial Insulation Group, also known as IIG, started in 2002 as a joint venture when Calsilite Group and Berkshire’s Johns Manville Corp combined manufacturing capabilities for several of their product lines.

A spokeswoman for Johns Manville said a transaction was pending but that an agreement had not been completed.

She declined to comment on the nature of the transaction, and whether Johns Manville was increasing its stake in IIG or acquiring it entirely.

The transaction was on a list of deals that the FTC or Justice Department have approved. The list is issued several times a week.

Reporting By Diane Bartz in Washington and Ben Berkowitz in Boston

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