Deals
Buffett Is ‘On the Prowl’ for Acquisitions as Cash Hoard Climbs
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Warren Buffett, chairman and chief executive officer of Berkshire Hathaway Inc., said he’s “on the prowl” for large acquisitions after record earnings at the company’s railroad and energy units helped build cash holdings.
Berkshire’s cash hoard increased to $37.3 billion on Dec. 31 from $34.8 billion three months earlier, the Omaha, Nebraska-based company said yesterday in it its annual report. Fourth-quarter net income declined 30 percent to $3.05 billion on smaller gains from Buffett’s derivative bets.