Warren Buffett's $100 Billion Problem Just Got Bigger
Berkshire Hathaway (NYSE: BRK-A) (NYSE: BRK-B), the conglomerate led by billionaire investor Warren Buffett, has nearly $100 billion of cash on its balance sheet, and investors have been patiently waiting for the company to put some of this cash to work. Unfortunately, Berkshire's most recent plan to put a dent in its cash stockpile just came to an end. Here's what happened, and what it means to Berkshire's shareholders.
In July, Berkshire Hathaway announced that it had agreed to acquire Texas-based power transmission company Oncor in a $9 billion transaction, which would allow Berkshire to grow its already-massive portfolio of utilities. More importantly, the transaction would finally allow Berkshire to put a significant amount of its growing cash hoard to work.
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Source: Fool.com
