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.

Just Posted

No nuts were grown in Almond Gardens

Place Names: Grand Forks neighbourhoods, Part 2

Blooming judges coming to Trail

Trail is participating in the CiB Class of Champions next week

Montrose seeks funding for age-friendly project

Council has committed $120,000 for renovations to facility

Rossland Legion supports youth activities

Legion members donate to Canadian Tire Jumpstart Program

Trail Sk8 Park Celebration

The all-wheel park is in a scenic location near the Gyro Park boat launch

Rich the Vegan scoots across Canada for the animals

Rich Adams is riding his push scooter across Canada to bring awareness to the dog meat trade in Asia

Body, burning truck found near northern B.C. town

RCMP unsure if the two separate discoveries are related

Couple found dead along northern B.C. highway in double homicide

Woman from the U.S. and man from Australia found dead near Liard Hot Springs

UPDATE: West Kelowna fawn euthanized, not claimed by sanctuary

Gilbert the deer has been euthanized after a suitable home was not found in time

BC Wildfire Service warns wet weather no reason to be complacent

Fire risk currently low for much of B.C. compared to same time over last two years.

Bank of Canada lowers qualifying rate used in mortgage stress tests

Home sales softened last year after the federal government introduced new stress test rules for uninsured mortgages

B.C. man pleads guilty in snake venom death of toddler

Plea comes more than five years after the incident in North Vancouver

Trudeau says Ottawa open to proposals for B.C. refinery as gas prices soar

Prime minister says he knows B.C. residents are struggling and the federal government is open to ideas

Clock’s ticking to share how you feel about Daylight Saving Time in B.C.

Provincial public survey ends at 4 p.m. on Friday

Most Read