Buffett Still Looking for $20 Billion Merger, Talks Up Current Holdings

Industrials

Published: October 24, 2012 8:02 am

Last Updated: April 27, 2020 6:13 pm

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 that next “whale of a deal” that he has referred to in the past.

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

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