Billionaire Mario Gabelli says he’s got a hot deal for Warren Buffett
Berkshire Hathaway has been in the auto dealership business for about a year now, and value investor Mario Gabelli said Friday that Warren Buffett might want to consider buying AutoNation.
“If you want a big elephant, there’s a 100 million shares of AutoNation” with a market value of more than $5 billion, Gabelli told CNBC’s “Squawk Box” in a wide-ranging interview from Omaha, Nebraska, a day before Saturday’s Berkshire shareholders meeting.
In 2015, Berkshire completed its acquisition of Van Tuyl Group, which at the time was the nation’s largest privately held car dealership chain. The new company was renamed Berkshire Hathaway Automotive.
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