Berkshire Hathaway To Acquire Alleghany Corporation For $848.02 Per Share In $11.6 Billion Transaction
Berkshire Hathaway To Acquire Alleghany Corporation For $848.02 Per Share In $11.6 Billion Transaction
03/21/22, 9:31 AM
Location
omahaIndustry
insurance
administrative services
artificial intelligence
science and engineering
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.
Company Info
Location
Omaha, Nebraska, United States
Company info
Berkshire Hathaway and its subsidiaries engage in diverse business activities including insurance and reinsurance, utilities and energy, freight rail transportation, manufacturing, retailing and services. Common stock of the company is listed on the New York Stock Exchange, trading symbols BRK.A and BRK.B.