A large deal could also be partially funded using Berkshire’s own stock, though Buffett is reluctant to dilute his shareholders. (He recently quipped he’d “rather prep for a colonoscopy than issue Berkshire shares.”)
What’s possible is not necessarily probable, of course. For starters, there aren’t that many companies that are worth $100 billion and fewer still that might interest Buffett. He’s said, for instance, that he wouldn’t want to own a bank because of the regulation that would come along with it.
Another thing can be pretty much counted out: a hostile bid. He has said he doesn’t chase deals. He recently pulled an offer with Kraft Heinz Co. for Unilever -- which has a market capitalization of roughly $150 billion -- because the consumer products giant deemed it unfriendly.
“If he were given an interesting opportunity to spend $100 billion, he’d find the money,” said Steve Wallman, a longtime Berkshire shareholder and investor in Middleton, Wisconsin. “The more important factor is what’s available.”
This article was provided by Bloomberg News.