Berkshire's Greg Abel signs $17 billion deal spree, expanding succession bet into tech
Greg Abel, who took over from Warren Buffett as Berkshire Hathaway chair, has unveiled a back-to-back series of acquisitions worth nearly $17 billion. CNBC said the inclusion of technology targets is a clear sign that Abel is willing to put Berkshire's enormous balance sheet to active use.
CNBC Top NewsGreg Abel, who took over from Warren Buffett as Berkshire Hathaway chair, has executed a back-to-back series of acquisitions worth almost $17 billion. According to CNBC, the package covers Berkshire's familiar energy and industrial verticals but also includes technology targets, marking a partial step away from a portfolio long built around what Buffett called 'cyclically safe' businesses.
Analysts say both the scale and pace of the deals stand out. CFRA Research, cited by CNBC, called the move the first major sign that Abel intends to 'put capital to work in operating businesses rather than holding it on the balance sheet'. Berkshire has been criticised in recent years for sitting on more than 300 billion US dollars of cash.
With the deals still pending regulatory approval, market participants are weighing what Berkshire's first significant direct operational push into technology means after years of paring back its Apple stake. Berkshire is due to lay out further strategy details at its next 13F filing and shareholder gathering. Several analyst houses said they expect a constructive short-term share reaction, while flagging integration risks to watch over the medium term.
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