Berkshire Hathaway Inc. offered about $5 billion for technology distributor Tech Data Corp. last week, but it was outbid by Apollo Global Management, said Warren Buffett, Berkshire’s chairman and chief executive.
The rare insight into a Berkshire deal that fell through illuminates the challenges facing the Omaha, Neb., conglomerate as it looks to spend its growing cash pile. Berkshire had a record $128 billion in cash as of Sept. 30, and Mr. Buffett is eager to spend it on acquisitions and large investments. But he is unwilling…
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