February 24, 2018 / 1:41 PM / a year ago

Warren Buffett says Berkshire needs to do 'one or more huge acquisitions'

FILE PHOTO: Berkshire Hathaway shareholders walk by a video screen at the company's annual meeting in Omaha, Nebraska, U.S., May 4, 2013. REUTERS/Rick Wilking/File Photo

NEW YORK (Reuters) - Warren Buffett on Saturday said Berkshire Hathaway Inc (BRKa.N) needed to make “one or more huge acquisitions” to increase its earnings, but admitted that finding a deal at “a sensible purchase price” had become a challenge.

“Prices for decent, but far from spectacular, businesses hit an all-time high,” Buffett said in his annual letter to shareholders. “The ample availability of extraordinarily cheap debt in 2017 further fueled purchase activity.”

Reporting by Trevor Hunnicutt; Editing by Mark Potter

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