Warren Buffett

Warren Buffett offered about $5 billion for Tech Data, he told the Wall Street Journal, but declined to wage a bidding war against Apollo Global Management after the private-equity titan hiked its offer last week.
“It was our kind of business. It’s one you can understand,” Berkshire Hathaway’s CEO told the Journal. “I may not understand all of the products that they sell and I may not understand what the customers who buy the products do with them, but I do understand the middleman’s role.”
Bank of America approached one of Buffett’s lieutenants about acquiring Tech Data, and after Buffett evaluated the company and dispatched another lieutenant to its headquarters, he made an offer, the Journal reported.
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Warren Buffett offered about $5 billion for Tech Data, he told the Wall Street Journal, but declined to wage a bidding war against Apollo Global Management after the private-equity titan hiked its offer for the technology distributor.

Berkshire Hathaway’s CEO told the Journal that Bank of America approached one of his portfolio managers, Todd Combs, about acquiring Tech Data. Buffett reviewed its finances and investor presentations and was instantly intrigued, he told the newspaper.

“It was our kind …read more


Source:: Businessinsider – Finance

      

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