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Buffett said he continues to look for a major acquisition for Berkshire Hathaway, but he's not willing to pay more to compete with other bidders. Berkshire has lost out on a couple of major acquisitions in recent years because private equity firms are bidding aggressively with borrowed money, Buffett said. Berkshire doesn't borrow for acquisitions, and it has about $40 billion cash on hand. "Pricing is difficult, and money is cheap," he said. He said just this week someone approached him about a possible $6 billion deal but he hasn't reviewed the financial statements yet so he doesn't know if it will work. Berkshire has made about 15 smaller acquisitions this year, he said. He calls those bolt-on acquisitions because they are just added to Berkshire's existing businesses. He also said he has added to Berkshire's Wells Fargo and IBM stock investments this year, but he'd still prefer to make a big acquisition. Buffett said Wednesday that he is feeling good more than a month after finishing his prostate cancer treatments. "I feel fine. I feel great," he said. The 82-year-old said the treatments were tiring. He underwent six weeks of radiation treatments, and finished them in September. He disclosed his cancer diagnosis in April and said his cancer was not considered life-threatening because it was caught early. ___ Online: Berkshire Hathaway Inc.:
http://www.berkshirehathaway.com/
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