Buffett confirms offer to help Gilbert take over Yahoo: CNBC
Warren Buffett has offered financial help to fellow billionaire investor Dan Gilbert in his bid to buy Yahoo Inc. , CNBC reported on Monday. The Berkshire Hathaway chief executive was rumored on Friday to be backing a consortium that includes Gilbert, the Quicken Loans Inc. founder and Cleveland Cavaliers NBA franchise owner. Buffett confirmed to CNBC on Monday he would be happy to bankroll Gilbert if needed. "Yahoo is not the type of thing I'd ever be an equity partner in. I don't know the business and wouldn't know how to evaluate it, but if Dan needed financing, with proper terms and protections, we would be a possible financing help," Buffett told CNBC. Berkshire Hathaway previously partnered up with investment firm 3G Capital in its takeover of Heinz and Kraft.
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