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

Alberta RCMP offers tips for water safety this summer

Since 2016, 57 people have drowned in Alberta

‘Alberta Long Ears’ in Stettler Aug. 10th-11th.

Established in 1989, the Alberta Donkey & Mule Club is an offshoot of the national organization

Communities in Bloom judges check out Stettler’s finest features

National and International results will be announced in Yarmouth, Nova Scotia in September

Buccaneers pillage Irish 36-0

Central Alberta bounces back after off week against Wolfpack

Alberta Prairie Railways marks 30 unforgettable in the biz

Tickets purchased this year go to a special ‘luxury’ train ride for 30 guests

The Beaverton’s sharp satire thrives in polarized political climate

Canadian TV series’ third season to air Tuesday on CTV after “The Amazing Race Canada”

VIDEO: Bystander training gains traction as tool to prevent sexual harassment, violence

Julia Gartley was sexually assaulted after an event, and no one stepped in to help

Sexual assaults, extortion on the rise even as crime rates stay low: Stats Canada

Rates of police-reported sexual assault rose for the fourth year in a row

A year later, ceremony commemorates victims of the Danforth shooting

It’s the one-year anniversary of when a man opened fire along the bustling street before shooting and killing himself

Ottawa fights planned class action against RCMP for bullying, intimidation

The current case is more general, applying to employees, including men, who worked for the RCMP

Alberta judge denies B.C.’s bid to block ‘Turn Off the Taps’ bill

He said the proper venue for the disagreement is Federal Court

Buccaneers pillage Irish 36-0

Central Alberta bounces back after off week against Wolfpack

Sexual harassment complaints soaring amid ‘frat boy culture’ in Canada’s airline industry

‘It’s a #MeToo dumpster fire…and it’s exhausting for survivors’

Most Read