How WSJ’s Mattioli broke the Precision Castparts deal story
Dana Mattioli, a mergers and acquisitions reporter for The Wall Street Journal in New York, talks about how she broke the story of Berkshire Hathaway’s 2015 agreement to acquire Precision Castparts, the largest such deal in Warren Buffett’s storied career.
Mattioli said she first heard about the deal on her way to her best friend’s wedding rehearsal.
“I have my friends pull over so I can get out of the car and call my editor, and we immediately start planning,” said Mattioli. “Obviously, the timing isn’t great.”
Mattioli and her editor, Dana Cimilluca, begin calling sources in an attempt to confirm the deal. “We don’t want to get scooped,” says Mattioli. “By the time we’re at the rehearsal dinner, my phone is dangerously low on battery. The only power outlet is in the women’s bathroom, so I lock myself in there.”
By the next morning, Mattioli is with the bridal party getting ready for the wedding when she gets a call from a source.
“He confirms the deal and adds, ‘Your bunny has a good nose,’ which is an inside joke on Wall Street,” said Mattioli. “So I call my editor to get everything ready to go, and he has to park his kids at a fast food play area just so that we can publish as soon as possible.”
The story was posted on the Journal’s website on Saturday afternoon and ran on the front page Monday. “By the way, it was a really beautiful wedding,” he said.
To listen to Mattioli, go here.