And Buffett is asking for a steep premium: one and one-half times more than what the insurers are currently receiving.

FORBES: Buffett To The Rescue!

Much of Buffett's Coca-Cola premium has evaporated.

FORBES: My 50% rule

In a nutshell, Buffett looks for companies that have strong brands (which promotes premium pricing) that run understandable businesses with a good return on capital without a lot of debt.

FORBES: Warren Buffett: Business Buyer

Berkshire diehards need to deal with two sobering issues: Buffett's age, 69, and the company's sizable premium over aftertax liquidating value.

FORBES: Buffett: What went wrong?

The second time Mr. Buffett brought Ariel to the annual meeting he offered to anyone who beat her a premium box of See's candies (a Berkshire product).

WSJ: Social Media

Since shareholders do not have to pay a premium to buy the shares of the target on their own (Mr Buffett's point), the payoff must represent something that shareholders cannot get on their own.

ECONOMIST: Bidder beware | The