Buffett Wants to Buy Huge Business

Warren Buffett on Sunday said he would like to buy a "huge" business for his Berkshire Hathaway Inc. (BRKa.N: Quote, Profile, Research (BRKb.N: Quote, Profile, Research insurance and investment company, and would sell other investments to buy it.

"I would hope that something would come along that would force us to sell something that I like to buy (something) huge," Buffett said at a press conference. "We have plenty of things to sell if we needed to, but the cash is coming in faster than the ideas."

Charlie Munger, Buffett's second-in-command, added: "If it happens, I think we'll recognize it."

Omaha, Nebraska-based Berkshire has long said it would like to make a $5 billion to $20 billion acquisition. The company ended March with $46.03 billion of cash, and nearly $90 billion of cash and fixed-income securities on its balance sheet.

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At Saturday's annual Berkshire shareholder meeting, Buffett said Berkshire would like to make more acquisitions. "The entire world is definitely on our radar screen, and we hope to be on its," Buffett said.

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