Berkshire Hathaway Annual Shareholder Meetings (since 1994) cover image

2016-Afternoon Session-BRK Annual Shareholders Meeting

Berkshire Hathaway Annual Shareholder Meetings (since 1994)

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Berkshire paid $4.1 billion for Vantile's auto-retailing business and consolidated its earnings for nearly 10 months last year. Given prevailing acquisition multiples in the industry and margins, it seems that the acquisition should have contributed more to Berkshire's bottom line in 2015 than it seemed to. I imagine Berkshire is earning a better return on the acquisition than a so far apparent. But I wonder if you could explain the difference between the likely economics of the deal and what I infer from the annual report figures.

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