Billionaire investor Warren Buffett's Berkshire Hathaway Inc., which today agreed to buy Constellation Energy Group Inc., is increasing the pace of deals as debt markets freeze up and stocks fall.
The deal to pay $4.7 billion for Constellation is Buffett's eighth acquisition announced since October, compared with six in the prior 12 months, when the largest was a $350 million purchase of an underwear and pajama company. Omaha, Nebraska-based Berkshire, which had $31.2 billion in cash on June 30, is acting as buyouts by competitors slow amid a worldwide credit crunch.
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