A New York City dinner between Warren Buffett and Alleghany Corp. Chief Executive Officer Joseph Brandon kicked off one of Berkshire Hathaway Inc.’s latest deal hunts.
The pair met for dinner on March 7, when Buffett made it clear that Berkshire was interested in buying Alleghany for $850 a share, according to a regulatory filing released Monday. That conversation would jump-start Berkshire’s bid for Alleghany that culminated in a $11.6 billion deal for the insurer announced later that month.
It’s one of the biggest acquisitions in years for Berkshire and Buffett, its billionaire CEO. He has revved up his deal machine recently, with the conglomerate also buying up shares in Occidental Petroleum Corp. and revealing a new equity bet on HP Inc.
