With $116 billion cash, Buffett says Berkshire needs 'huge' deals

By Trevor Hunnicutt and Jonathan Stempel NEW YORK (Reuters) - Warren Buffett on Saturday lamented his inability to find big companies to buy and said his goal is to make "one or more huge acquisitions" of non-insurance businesses to bolster results at his conglomerate Berkshire Hathaway Inc. In his annual letter to Berkshire shareholders, Buffett said finding things to buy at a "sensible purchase price" has become a challenge and is a major reason Berkshire is awash with $116 billion of low-yielding cash and government bonds. Buffett said a "purchasing frenzy" binge by deal-hungry chief executives employing cheap debt has made that task difficult.

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