Buffett Takeover Criteria Includes General Dynamics: Real M&A

Warren Buffett wants to use his almost $40 billion pile of cash to pursue bigger acquisitions. That may put companies from Archer Daniels Midland Co. to General Dynamics Corp. and Exelon Corp. in his sights.

The 80-year-old billionaire investor and chairman of Omaha, Nebraska-based Berkshire Hathaway Inc. said in his annual letter to shareholders on Feb. 26 that he was looking for “more major acquisitions,” a year after spending $26.5 billion to buy Burlington Northern Santa Fe railroad in his largest purchase.