Billionaire investor Warren Buffett said he could envision his Berkshire Hathaway Inc. (BRKA) (BRKB) insurance and investment company pursuing a $40 billion to $60 billion acquisition, according to news reports.

Buffett, chairman and chief executive of Berkshire Hathaway, said his company has more cash than investment opportunities. The company ended March with $46 billion of cash, and nearly $90 billion of cash and fixed-income securities on its balance sheet.

Buffett would "love" to find a $40 billion acquisition and would "figure out a way" to come up with $60 billion for the right deal, he said in a later interview, according to the Bloomberg report.

The so-called 'Oracle of Omaha' also told CNBC that he was seeking a big deal.

Reuters previously reported that Buffett told shareholders at Berkshire's annual meeting on Saturday that the company would like to make a big acquisition. "The entire world is definitely on our radar screen, and we hope to be on its," Buffett said.

"I would hope that something would come along that would force us to sell something that I like to buy (something) huge," Buffett said at a press conference. "We have plenty of things to sell if we needed to, but the cash is coming in faster than the ideas."