Deals

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.Photographer: Houston Cofield/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Katherine Chiglinsky

November 29, 2019 at 11:44 AM UTC

Updated on

November 29, 2019 at 6:48 PM UTC

This article is for subscribers only.

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.