Buffett’s missed deal with ad giant WPP

Berkshire

Hathaway Inc.’s Warren Buffett and Martin Sorrell, former CEO at UK ad giant WPP Plc, discussed a potential tie-up of the two companies in 2012, Sorrell has said. The acquisition by Berkshire never happened because the two couldn’t agree on price.

Buffett “was really interested in WPP becoming part of Berkshire,” Sorrell said. “The average premium was 30 per cent, and we couldn’t encourage him to go to 30. I would’ve loved to have done that if it had been at the right price.”