Lorillard Inc., the subject of takeover speculation for more than three years, doesn’t need to combine with another tobacco producer to reward shareholders, Chief Executive Officer Murray Kessler said.
Warren Buffett’s Berkshire Hathaway Inc. invested $23.9 billion in the third quarter, the most in at least 15 years, as he accelerated stock purchases and broadened the portfolio beyond consumer and financial-company holdings.
Seth Klarman almost doubled his hedge fund’s assets to $22 billion in the past two years as the industry shrank by sticking with the off-the-beaten-path investments he’s pursued since starting out in 1983.
Sequoia Fund Inc., recommended by Warren Buffett when it opened, beat the U.S. stock market over the past four decades, in part because a large piece of the fund was invested in his company, Berkshire Hathaway Inc.
Li Lu , the hedge-fund manager who helped Berkshire Hathaway Inc. find profits in China, may push Warren Buffett ’s investment company to make more deals outside the U.S. if he takes a role at the company.
Warren Buffett’s Berkshire Hathaway Inc. reinstated its $3.25 billion offer to buy Transatlantic Holdings Inc. for less than book value and gave the reinsurer until the close of business today to accept a bid it previously said was insufficient.