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Warren Buffett's Company Takes Over Scottish Carpet Manufacturer

Discussion in 'Business News' started by MarkB, Feb 3, 2018.

  1. MarkB

    MarkB Administrator
    Staff Member

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    Scottish based Sanquhar Tile Services has been taken over by one of Warren Buffett's subsidiary companies in a deal which should see long term investment in the group.The company will become part of US giant Shaw Industries which has annual revenues of nearly $6b,

    https://www.insider.co.uk/news/scottish-borders-carpet-manufacturer-taken-11959173

    A good move or another Scottish business set to lose its identity with a US takeover?
     
  2. If the investment is not coming from Scottish sources then companies looking to expand are vulnerable to takeovers by cash rich competitors businesses overseas. The fall in sterling since the Brexit vote (even after a recent partial recovery) adds further firepower to overseas predators.