Warren Buffett ends drought with Berkshire’s $11.6 billion Alleghany purchase

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Reuters

By Noor Zainab Hussain and Jonathan Stempel NEW YORK (Reuters) -Warren Buffett’s Berkshire Hathaway Inc on Monday struck an agreement to buy insurance company Alleghany Corp for $11.6 billion, only weeks after the 91-year-old billionaire bemoaned a lack of good investment opportunities. Alleghany, the owner of reinsurer Transatlantic Holdings Inc, would expand Berkshire’s large portfolio of insurers, which includes auto insurer Geico, reinsurer General Re and a unit that insures against major catastrophes and unusual risks. “Berkshire will be the perfect permanent home for Alleghany, a company…

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