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Buffett Outbid by Private Equity in Berkshire’s Deal Hunt

  • Apollo topped Berkshire bid for Tech Data Corp., CNBC says
  • Buffett’s deal efforts have been hurt by ‘sky-high’ prices
Warren Buffet plays bridge at an event on the sidelines of the Berkshire Hathaway annual shareholders meeting meeting in Omaha, Nebraska, on May 6.
Warren Buffet plays bridge at an event on the sidelines of the Berkshire Hathaway annual shareholders meeting meeting in Omaha, Nebraska, on May 6.Photographer: Houston Cofield/Bloomberg
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Warren Buffett has frequently touted his Berkshire Hathaway Inc. as a home for businesses away from what he said was the debt-fueled, quick-turnover appetite of private equity firms. But the Berkshire name wasn’t enough for Tech Data Corp.

Berkshire made a $140-a-share bid for the distributor of technology products that was topped by a $145 offer from Apollo Global Management Inc., CNBC reported. The offer was another effort by the billionaire investor to put a chunk of his record $128 billion cash pile to use and signals that while Buffett is still on the prowl, he may not be willing to outbid private equity firms flush with money.