Warren Buffett's deal-making observations, post Microsoft-Yahoo
The Oracle of Omaha, Warren Buffett, admittedly knows little about tech--but deal-making, yes.
And in commenting in a CNBC interview, Buffet, the investment guru of Berkshire Hathaway, had this general observation about deal-making, in light of Microsoft's walk-away from its unsolicited Yahoo bid:
"When you hit your choking point, you quit," he noted.
"I've walked away from deals before and meant it. I walked away from the See's (Candies) deal. They wanted $30 million, and we offered $25 million. We walked away and, fortunately for us, they walked after us," he said.
Wonder if he recounted that tale to Microsoft founder Bill Gates, Yahoo President Sue Decker, and Ron Olson, Yahoo's outside legal adviser to the independent board members, all of whom are Berkshire Hathaway directors.
Over the weekend, Berkshire held its annual shareholders' meeting, providing a potential back-door channel for discussions between the Microsoft and Yahoo folks.
Dawn Kawamoto covers enterprise security and financial news relating to technology for CNET News. E-mail Dawn.
