The deal is relatively small by Berkshire's standards. The company spent $12.25 billion earlier this year to acquire half of ketchup maker H.J. Heinz Co. in a $23.3 billion deal. Buffett said Wednesday that another similar-sized deal recently got away from Berkshire.
Buffett also said he hasn't yet seen an effect on consumer spending in the reports he gets from Berkshire subsidiaries like its furniture and jewelry stores, but that would change if the government defaults.
Buffett said he hasn't sold off any of Berkshire's short-term treasury bills because of the budget battle. He said he's not worried about the government paying those.
Berkshire Hathaway Inc. owns about 80 subsidiaries, including clothing, brick, carpet and paint firms. Its insurance and utility businesses typically account for more than half of the company's net income. It also has major investments in such companies as Coca-Cola Co. and Wells Fargo & Co.
Berkshire Hathaway Inc.: www.berkshirehathaway.com
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