Schmidt To M&A Market: Call Me When You’re Cheaper

In the more-bad-news-for-VCs file, the cash cow known as Google has been deliberately inactive on the the M&A front because it’s waiting for “prices to get better,” according to CEO Eric Schmidt. Silicon Alley Insider reports that Schmidt told the Morgan Stanley tech conference conference today that Google’s M&A activity is “pretty inactive right now” because  “we’ve largely been waiting for prices to get better.”

Yes, you read that right. The company that had $15.85 BILLIOn in cash, cash equivalents, and short-term marketable securities as of Dec. 31, is worried that it’s going to overpay for a startup.

SAI reports that Schmidt told the crowd: “The good news is we have lots of capital. The bad news is we’re still trying to get everybody into the model that we really want in terms of M&A. And I think it’ll start soon, but it’s pretty inactive right now.”