Thomas Buberl Quotes

The Ranbaxy acquisition doesn't preclude us from making more large acquisitions. The important issue is whether we have the management bandwidth to handle the acquisition.

We continue to look at accretive and synergistic acquisitions both in the domestic as well as international markets. Our emphasis, thus, will be on strategic acquisitions, and we will not be doing it just for the sake of making our name bigger.

If we're going to acquire, what are we going to do differently? We came up with six rules of thumb. Whenever I've violated two of them, I usually get into trouble.

In my world, historical revenue is the least interesting thing to consider in an acquisition strategy. The goal is to acquire technology that is on your product roadmap or people that fit culturally within your organization and help you execute on your roadmap faster.

You can get wrapped up in that megamerger mentality.

We continue to see acquisitions as an opportunity area for us. It's one of the tools that we use to grow.

If guys try to make a bigger company for the sake of size, they don't create value in most cases.

Today we're focused on small acquisitions to add technology where necessary. I think it's fair to say we're not out looking for a large one, but I think it's also very fair to say that as a public company you can never say never.

I can well imagine making acquisitions so long as these are complementary to Puma and move it forward.

The disciplined approach to pursuing and selecting the most attractive investment opportunities continues to distinguish ExxonMobil. We are long-term driven, and we're patient. And we're not opportunity-constrained.

I love using a targeted acquisition approach in conjunction with a business that has a clear strategy and strong organic growth.

When we do acquisitions, we decide what we want. We decide what fills a hole. And if the price is too high, our alternative is the $5 billion we spend on R&D every year. We're not well-known for overpaying, because at Oracle we always have an alternative.

The agreement to acquire Volcano significantly advances our strategy to become the leading systems integrator in image-guided therapies.

If you look at the history of our company, we don't do a lot of acquisition. The reason is, we need to see that people are culturally and philosophically aligned with the way that we approach the business.

In pharma, we continuously look for acquisitions... if it makes strategic sense and if there is any value.

Deals are always a bit lumpy. We look at, 'Is it solving a problem for us?' And if it does, we move to acquisition.

CEOs are also chief capital allocators. This is a point Warren Buffett has repeatedly made: that the role management plays in allocating capital across businesses and boosting returns on that capital is a critical yet poorly recognized one.

When we do an investment, we always ask, 'Can we affect the outcome? When buying a company, can we have an impact?' That's a different style of investing than a passive investor in the stock market. To me, that's how you're taking the risk out of it. You know what your capability is and how you can enhance value.

China is littered with the wrecks of failed joint ventures. Investors are moving toward wholly-owned subsidiaries.

We generally acquire a company every three to four weeks on average. And so it's a rare month that there's not a company being bought. We typically buy for technology and really great people.

I was very early on in taking venture capital abroad: to Europe first, then Asia.

Traditional companies have to start looking into themselves to offer more opportunities in their companies by starting new subsidiaries and joint ventures.

I never look at an acquisition really by size.

I know how to finance something. It's easier today because, as you're more successful, everybody wants to do deals with you. But even in the beginning, when I took Landry's public, I owned 100 percent of it. I never had investors or anything. I was just always able to find a way to do it.

Speed is the No. 1 thing. Our core competency has been doing exactly this: buying companies and integrating them quickly.