A Bloomberg report said Warren Buffet's Berkshire Hathaway Inc had excess cash reserves that the company could use for acquisitions. At the end of June, Berkshire had a cash pile of USD 35.7 billion. It also received USD 4.4 billion this month from Mars Inc. Berkshire had extended a loan to Mars in 2008 to help the company purchase Wm Wrigley Jr Co. Barclays also projected that Berkshire would be posting third quarter profits of USD 4.3 billion.
Nomura Holdings Inc Cliff Gallant said, "It's a high-class problem. The year's not up. I wouldn't be surprised to see another deal of some sort."
According to the report, Buffet still needed to find companies to buy even if it had already spent a substantial amount this year on acquisitions. Berkshire took over HJ Heinz Co in a deal worth USD 12.3 billion. It had also pledged to purchase an electric utility in Nevada for USD 5.6 billion.
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