Buffett calls SPACs a ‘killer’

Buffett, 90, acknowledged the pressure from SPACs just as Berkshire reported Saturday that it had a near-record pile of cash at the end of March with US$145.4bil (RM595bil) in funds

NEW YORK: Warren Buffett warned investors that Berkshire Hathaway Inc might not have much luck on striking deals amid the special purpose acquisition company (SPAC) boom.

“It’s a killer, ” Buffett said about the influence of special purpose acquisition companies on Berkshire’s ability to find businesses to buy. “That won’t go on forever, but it’s where the money is now and Wall Street goes where the money is.”