Billionaire investor Warren Buffett said Monday he was close to making a big acquisition in the fourth quarter, but it fell apart.
"We had at least one deal possible that would have been very large," Buffett told CNBC's Becky Quick from Berkshire-owned Nebraska Furniture Mart on Monday. "I liked stocks in the fourth quarter, but I would like buying a business even better."
Buffett added that he didn't think the deal was on the table any longer but did not say why not. When pressed for further details on the mystery deal, Buffett said, "I'll give you a hint. It's on this planet."
The 88-year-old chairman and CEO of Berkshire Hathaway spoke from Omaha, Nebraska, after the release of the conglomerate's annual shareholder letter this weekend. In the widely shared letter, Buffett said he wanted to make an acquisition, but prices "are sky-high for businesses possessing decent long-term prospects."