Buffett's M&A plans has Euro focus

Warren Buffett's Berkshire Hathaway Inc. has made its fortune from acquiring solid American companies. Times have changed, and the investing guru said at his company's annual meeting over the weekend that he will now be focusing on buying European companies. The change in focus is primarily because of the weak dollar.

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"We are happy to invest in businesses that earn their money in the euro, or in companies that derive their earnings in Germany, or from the sterling in the U.K., because I don't have a feeling that those currencies are going to depreciate in a big way against the dollar," Buffett said at the meeting.

Buffett is hoping he can rebound from a net income drop in the first quarter to $940 million, or $607 per Class A share, from $2.6 billion, or $1,682 per Class A share, in the year ago period. - Gerald Magpily

See The Telegraph article
See Berkshire Hathaway earnings release
See Dealscape: Follow the Money: Buffett on the prowl
See Dealscape: Connecticut investigates Berkshire's conflicts of interest
See Dealscape: Could American Express become Buffett's main credit card?

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