Berkshire Hathaway To Acquire Alleghany Corporation For $848.02 Per Share In $11.6 Billion Transaction
Acquiring Company
Berkshire Hathaway
Acquired Company
Alleghany Corporation
OmahaNew YorkManufacturingEnergyInsurtechInsuranceFinancial ServicesScience And EngineeringArtificial IntelligenceAdministrative ServicesFinanceInsuranceDescription
Berkshire Hathaway (NYSE:BRK.A; BRK.B) and Alleghany Corporation (NYSE:Y) today jointly announced they have entered into a definitive agreement under which Berkshire Hathaway will acquire all outstanding Alleghany shares for $848.02 per share in cash. The transaction, which was unanimously approved by both Boards of Directors, represents a total equity value of approximately $11.6 billion. The acquisition price represents a multiple of 1.26 times Alleghany’s book value at December 31, 2021, a 29% premium to Alleghany’s average stock price over the last 30 days and a 16% premium to Alleghany’s 52-week high closing price.
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Frequently asked
Who acquired Alleghany Corporation?
Alleghany Corporation was acquired by Berkshire Hathaway, based in Omaha. The deal was reported on March 21, 2022. Berkshire Hathaway and its subsidiaries engage in diverse business activities including insurance and reinsurance, utilities and energy, freight rail transportation, manufacturing, retailing and services. Berkshire Hathaway is publicly traded (BRK-B) and operates in Manufacturing.
When did Berkshire Hathaway acquire Alleghany Corporation?
Berkshire Hathaway's acquisition of Alleghany Corporation was reported on March 21, 2022. Berkshire Hathaway (NYSE:BRK.A; BRK.B) and Alleghany Corporation (NYSE:Y) today jointly announced they have entered into a definitive agreement under which Berkshire Hathaway will acquire all outstanding Alleghany shares for $848.02 per share in cash. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does Alleghany Corporation do?
Alleghany Corporation is a financial holding company that operates in the insurance and reinsurance sectors. The company focuses on providing insurance solutions through various subsidiaries and has a strong presence in the market. It is privately held, operating in Financial Services, and is based in New York.
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