What a dream job. Buffett makes a big multi-billion dollar acquisition. Sits on the couch for a couple of months and his cash hoard is replenished through cash flow from the operating businesses.
Warren is in Japan this week:
Warren Buffett, who invested $23.9 billion for his Berkshire Hathaway Inc. (BRK/A) in the third quarter, said the company could spend as much as $10 billion on its next acquisition.
Buffett, Berkshire’s chief executive officer, said today on his first visit to Japan that he potentially has $8 billion to $10 billion if he found the right investment, though he had no specific merger and acquisition plans currently.
“We like the A part better,” Buffett said in an interview with Bloomberg News in Fukushima prefecture in northern Japan, referring to a preference for acquisitions over mergers. “On the Lubrizol transaction I think we spent about $8.7 billion. We’d love another one like that -- we can handle that. We can manage somewhat larger. We can handle a $10 billion deal very comfortably.”
Buffett, 81, has turned to stocks and takeovers this year after interest-rate declines limited returns in the bond market. He spent more than $10 billion on International Business Machines Corp. (IBM) shares and on the takeover of Lubrizol Corp. Buffett, who is also chairman and head of investments, is seeking deals as Omaha, Nebraska-based Berkshire’s cash builds.
“It can be any place,” he said. “If I can find something here in Japan that was a business that I like and understood, like their competitive position, like the price, like the financial position, like the management, we would do that tomorrow.”
Asia Visit
Berkshire’s investable funds were boosted in October by a $3.3 billion payment from General Electric Co. (GE) that ended Buffett’s 2008 financing deal with the Fairfield, Connecticut-based firm. Many of Berkshire’s units, including railroad Burlington Northern Santa Fe and Business Wire, are producing better results than last year, when the company posted about $13 billion of profit, Buffett said in September.
Link to entire article: http://www.bloomberg.com/news/2011-11-21/buffett-says-berkshire-could-spend-up-to-10-billion-on-next-acquisition.html#
Warren is in Japan this week:
Warren Buffett, who invested $23.9 billion for his Berkshire Hathaway Inc. (BRK/A) in the third quarter, said the company could spend as much as $10 billion on its next acquisition.
Buffett, Berkshire’s chief executive officer, said today on his first visit to Japan that he potentially has $8 billion to $10 billion if he found the right investment, though he had no specific merger and acquisition plans currently.
“We like the A part better,” Buffett said in an interview with Bloomberg News in Fukushima prefecture in northern Japan, referring to a preference for acquisitions over mergers. “On the Lubrizol transaction I think we spent about $8.7 billion. We’d love another one like that -- we can handle that. We can manage somewhat larger. We can handle a $10 billion deal very comfortably.”
Buffett, 81, has turned to stocks and takeovers this year after interest-rate declines limited returns in the bond market. He spent more than $10 billion on International Business Machines Corp. (IBM) shares and on the takeover of Lubrizol Corp. Buffett, who is also chairman and head of investments, is seeking deals as Omaha, Nebraska-based Berkshire’s cash builds.
“It can be any place,” he said. “If I can find something here in Japan that was a business that I like and understood, like their competitive position, like the price, like the financial position, like the management, we would do that tomorrow.”
Asia Visit
Berkshire’s investable funds were boosted in October by a $3.3 billion payment from General Electric Co. (GE) that ended Buffett’s 2008 financing deal with the Fairfield, Connecticut-based firm. Many of Berkshire’s units, including railroad Burlington Northern Santa Fe and Business Wire, are producing better results than last year, when the company posted about $13 billion of profit, Buffett said in September.
Link to entire article: http://www.bloomberg.com/news/2011-11-21/buffett-says-berkshire-could-spend-up-to-10-billion-on-next-acquisition.html#
