In the world of finance, there's never a dull moment. And last week wasn't an exception.
It was announced on Wednesday that global financial regulators reached a $4.3 billion accord with six major banks, including JPMorgan Chase (NYSE:JPM), Bank of America (NYSE:BAC), and Citigroup (NYSE:C), among others. The deal resolved allegations that the banks spent years manipulating the foreign-currency market in an effort to juice revenues by, in part, duping their own clients.
One day later, it was reported that Warren Buffett's Berkshire Hathaway (NYSE:BRK-A) had agreed to a $4.7 billion transaction to acquire, in the words of my colleague Patrick Morris, America's beloved battery manufacturer, Duracell, from Procter & Gamble (NYSE:PG). As The Motley Fool's Alison Southwick and John Maxfield discuss in the video below, not only does the acquisition offer significant tax savings to Berkshire Hathaway, but it also epitomizes the type of investment that Buffett loves.
John Maxfield has no position in any stocks mentioned. The Motley Fool recommends Bank of America and Procter & Gamble. The Motley Fool owns shares of Bank of America, Citigroup, and JPMorgan Chase. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.