Warren Buffett's Elephant Gun Could Target Utilities Deals
NEW YORK (TheStreet) -- Did Warren Buffett give a not so subtle hint that his "elephant gun" is targeting utilities, a sector where Berkshire Hathaway's (BRK.A) MidAmerican Energy is already one of the largest players in the U.S.?
Buffett fanned speculation at last weekend's Berkshire Hathaway annual meeting about another big acquisition when he said Berkshire had come close to cutting a $22 billion deal during the last quarter of 2011. Buffett said that the deal fell apart because of a disagreement on price and his unwillingness to sell any of his stock investments, nevertheless, he expressed confidence that in the future Berkshire will be able to bag M&A prey as large or larger than Berkshire's $26.5 billion acquisition of Burlington Northern Santa Fe.
Buffett's elephant gun is nothing new, and the never-ending question is what companies could Berkshire buy?
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