FILE - In this May 7, 2018 file photo, Berkshire Hathaway Chairman and CEO Warren Buffett speaks during an interview in Omaha, Neb. Buffett’s company has hired Lee Enterprises to manage the mostly smaller newspapers it has acquired since 2011 in 30 different markets. (AP Photo/Nati Harnik, File)

Buffett’s appetite for big deal soured by ‘sky-high’ prices

Billionaire investor Warren Buffett says ‘prices are sky-high.’

Billionaire investor Warren Buffett says he hungers for an “elephant-sized acquisition,” but the most tempting targets are too expensive for his tastes.

That recipe means Berkshire Hathaway, the conglomerate that Buffett runs, will likely focus on buying stakes in a variety of companies instead of trying to pull off an outright takeover.

Buffett delivered that news Saturday in his annual letter to Berkshire shareholders. His communique is closely scrutinized by investors because of Buffett’s success in the stock market, where he has built a fortune that Forbes currently pegs at $83 billion.

Berkshire could afford a big deal because it currently holds $112 billion in cash. But Buffett doesn’t expect to open his wallet this year because “prices are sky-high for businesses possessing decent long-term prospects.”

The Associated Press

Like us on Facebook and follow us on Twitter.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

City of Quesnel answers questions about the gold pan

The decision to relocate the gold pan has some Quesnel residents upset

First Nation community signs enforcement agreement with Conservation Officer Service

This is the fourth such agreement in the Cariboo Chilcotin

CITY HALL: Slow and steady return to “normal”

City council news from Mayor Bob Simpson

Interlakes builds drive-in movie theatre

‘It looks like it could be a golf course now, really, it’s beautiful’

Only four new COVID-19 cases, 228 active across B.C.

Health officials watching as activities ramp up

Feds looking at ways to reunite families amid COVID-19 border restrictions with U.S.

Some families with members of dual-citizenship have become separated due to the pandemic

Condition in kids with possible COVID-19 link being studied in Canada

This month, the U.S. Centers for Disease Control and Prevention issued an alert to doctors about MIS-C

‘I knew what he wanted’: Kootenay man spends hours in tree as black bear patrols below

Francis Levasseur is no stranger to the outdoors, but a recent run-in with a bear caused quite a scare

COVID cancelled their wedding plans, so they married on a BC mountaintop

Ceremony was live streamed to friends and family around the world

Trudeau acknowledges racial unrest in U.S.; ‘We also have work to do in Canada’

‘Anti-black racism, racism, is real; it’s in the United States, but it’s also in Canada,’ Trudeau says

State of Local Emergency declared for Boundary as communities brace for river flooding

Warm weather and heavy rain could cause sections of Kettle River system to swell beyond 2018 levels

Large cruise ships barred from Canadian waters until end of October: Garneau

Last year 140 cruise ships brought more than two million visitors to Canadian ports

Minneapolis cop who knelt on man’s neck charged with murder

Arrest comes after three days of protests, which escalated in violence as demonstrators torched a police precinct

Most Read