Bill Ackman bets $2.1B on insurer in bid to turn Howard Hughes into mini-Berkshire

Bill Ackman is trying to turn a real estate developer into an insurance-fueled mini–Berkshire Hathaway — and he just made his biggest move yet.Howard Hughes Holdings Inc., the company best known for sprawling master planned communities, has agreed to buy Bermuda-based specialty insurer Vantage Group Holdings for $2.1 billion in cash and stock, a deal Ackman has been pushing as the anchor for a new diversified holding-company strategy.In a statement, Ackman credited former Berkshire boss Warren Buffett for c ...