OMAHA (dpa-AFX) - Berkshire Hathaway (BRK.A; BRK.B) and Alleghany Corporation (Y) have entered into a definitive agreement under which Berkshire Hathaway will acquire all outstanding Alleghany shares for $848.02 per share in cash. The deal represents a total equity value of approximately $11.6 billion.
Alleghany will continue to operate as an independent subsidiary of Berkshire Hathaway after closing. The transaction is expected to close in the fourth quarter of 2022.
Alleghany may actively solicit and consider alternative acquisition proposals during a 25-day go-shop period.
Shares of Alleghany were up 27% in pre-market trade on Monday.
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