Buffett Still Looking for $20 Billion Merger, Talks Up Current Holdings
Warren Buffett of Berkshire Hathaway Inc. (NYSE: BRK-A) is still out elephant hunting. He told CNBC’s Becky Quick this morning that he has made a record number of small bolt-on acquisitions. What he has not been able to find is…
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He has said that he is still looking for something up to the $20 billion area for an acquisition. More importantly, Buffett said he has tried a couple of companies but that those were not able to go through. He did not say whether management was wanting too high of a price, but Buffett said that pricing in general is challenging now. In short, share prices are too high for him to go after.
Berkshire Hathaway Inc. (NYSE: BRK-B) B shares closed at $86.95 and the 52-week trading range is $72.60 to $90.93.
The Coca-Cola Co. (NYSE: KO) was discussed as being a keen insight into the distribution network globally. Buffett said he has added more to the Wells Fargo & Co. (NYSE: WFC) position, and he also talked up his large investment in International Business Machines Corp. (NYSE: IBM).
Here is the full list of the Buffett holdings.
JON C. OGG
Contact [email protected] for any questions or corrections.
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
