Why Alleghany Is the Ideal Buffett Acquisition
Over the years, Warren Buffett and Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) have been building up a huge cash balance. At the end of last year, the conglomerate had $150 billion in cash to put to work.
Earlier this week, Berkshire Hathaway said it would acquire the insurance giant Alleghany Corp. (NYSE: Y) for $11.6 billion. Berkshire Hathaway's deal is its largest since 2016 when it bought Precision Castparts for $37 billion. Alleghany is the perfect Buffett acquisition -- here's why.
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