Warren Buffett says Berkshire needs to do 'one or more huge acquisitions'

NEW YORK (Reuters) - Warren Buffett on Saturday said Berkshire Hathaway Inc needed to make "one or more huge acquisitions" to increase its earnings, but admitted that finding a deal at "a sensible purchase price" had become a challenge.

"Prices for decent, but far from spectacular, businesses hit an all-time high," Buffett said in his annual letter to shareholders. "The ample availability of extraordinarily cheap debt in 2017 further fueled purchase activity."

(Reporting by Trevor Hunnicutt; Editing by Mark Potter)