During the negotiations, Alleghany Corporation attempted to counter Warren Buffett’s acquisition offer by requesting a price higher than the initial $850 per share. According to a proxy filing with the SEC, Alleghany investigated the potential breakup of its business units in order to determine whether a potential sale or spin-out of one or more of… Continue reading During Negotiations Alleghany Asked Buffett for More, Considered Breakup of Business Units
Tag: Berkshire-Alleghany deal
Berkshire Hathaway to Buy Insurer Alleghany for $11.6 Billion
Berkshire Hathaway Inc. announced on Monday that it has agreed to buy insurer Alleghany Corp. for approximately $11.6 billion, putting some of billionaire Warren Buffett’s massive cash pile to work in a deal that strengthens its insurance arm. Berkshire said it will pay $848.02 per share in cash for Alleghany, representing a 25.3 percent premium… Continue reading Berkshire Hathaway to Buy Insurer Alleghany for $11.6 Billion