Buffet to Purchase U.S. Utility

[chlamor]

Buffett to purchase U.S. utility


By Heather Timmons and Jad Mouawad The New York Times

THURSDAY, MAY 26, 2005


A $5.1 billion deal for the U.S. electricity utility PacifiCorp struck by the American billionaire Warren Buffett, his largest purchase in eight years, has sounded a bullish note for the energy industry in general.
 
"There is no limit to the amount of money we would have available for the right acquisition," Buffett said during a news conference Tuesday in London about the PacifiCorp deal. "Frankly, the bigger the better."
 
Buffett, who faced tough scrutiny this year after a regulatory investigation of the insurance sector, said utilities like PacifiCorp were a good fit with his holding company, Berkshire Hathaway, because of their steady returns.


http://www.iht.com/articles/2005/05/25/business/power.php

[Kolesar]

1. And he is going to buy more energy companies

That was on NPR Marketplace morning report today