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Buffett Seeks ‘Major Acquisitions’ After Berkshire Profit Gains

Warren Buffett said he’s looking for “more major acquisitions” after the purchase of the Burlington Northern Santa Fe railroad helped increase fourth-quarter profit and cash holdings at his Berkshire Hathaway Inc.

“Our elephant gun has been reloaded, and my trigger finger is itchy,” Buffett said of the outlook for deals yesterday in his annual letter to shareholders. Omaha, Nebraska-based Berkshire reported a 43 percent gain in profit in the three months ended Dec. 31. Cash was $38.2 billion at yearend, the highest in three years, compared with $34.5 billion as of Sept. 30.