Unsubstantiated reports in March that some big investors were beginning to analyze buying all or part of GE sent the company's shares higher. Some speculated that Buffett was looking to invest, with RBC Capital Markets theorizing that GE's downtrodden state makes it ripe for him to invest.
"Berkshire Hathaway has a history of investing in storied businesses struggling at steep valuation dislocations," analyst Deane Dray wrote in a note to clients at the time. "In many ways, GE's current situation fits the profile of an ideal Warren Buffett investment."
Dray also noted Buffett's Berkshire invested in GE's preferred shares during the financial crisis in October 2008.