26 Feb '11, 7pm

US billionaire Buffett ready for more takeovers

NEW YORK - US billionaire chief executive Warren Buffett said Saturday he is "itchy" for more takeovers less than one year after his $26.5-billion purchase of the Burlington Northern Santa Fe Railway company. In his annual letter to his Berkshire Hathaway shareholders, Buffett wrote that in 2011 "we will need both good performance from our current businesses and more major acquisition. "We're prepared," said Buffett, 80, the third richest man in the world. "Our elephant gun has been reloaded, and my trigger finger is itchy." Buffett said that his company is "envisioning a year free of mega catastrophe in insurance and possessing a general business climate somewhat better than that of 2010, but weaker than that of 2005 or 2006." Berkshire Hathaway reported that 2010 net income was up 61 percent compared to the previous year to 12.97 billion dollars, and its per-share book v...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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