Buffett: No more 'elephant'-sized M&A for now, but smaller deals likely

Billionaire investor Warren Buffett told CNBC on Monday he's in the market to do several small acquisitions over the next six months, but ruled out any major takeover deals for a while. His comments came after his Berkshire Hathaway Inc. /zigman2/quotes/208872451/composite BRK.A +0.11% /zigman2/quotes/200060694/composite BRK.B +0.09% announced its biggest buyout deal ever, through the $32 billion takeover of Precision Castparts Corp. . Speaking with CNBC's Squawk Box Monday morning, Buffett said his company now needs time to "reload" on cash reserves after the Precision takeover, ruling out another "elephant"-sized deal, but noting that it won't exclude smaller acquisitions. B-shares of Berkshire Hathaway were down 1.4% ahead of the bell, while the A-shares were flat. Precision shares rallied 20%.

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Berkshire Hathaway Inc. Cl A

US : U.S.: NYSE

$ 353,200

+399.25 +0.11%

Volume: 220.00

Jan. 21, 2021 1:00p

P/E Ratio

15.64

Dividend Yield

N/A

Market Cap

$550.88 billion

Rev. per Employee

$650,360

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Berkshire Hathaway Inc. Cl B

US : U.S.: NYSE

$ 234.97

+0.21 +0.09%

Volume: 1.91M

Jan. 21, 2021 1:00p

P/E Ratio

15.61

Dividend Yield

N/A

Market Cap

$550.88 billion

Rev. per Employee

$650,360