Berkshire Hathaway (BRK.B) has agreed to buy Alleghany Corporation (Y) in a $11.6 billion cash deal. BRK.B shares were up 2% and closed at $349.66 on March 21. The Warren Buffett-led Berkshire is a holding company of businesses involving a diverse range of sectors, including insurance, energy, and transportation. Meanwhile, Alleghany is a property and casualty insurance provider. The deal values Alleghany at $848.02 per share, a premium of 29% over the company’s average share price in the previous 30 days. The transaction is expected to close in Q4 2022 subject to approval from regulators and Alleghany shareholders. Alleghany’s Chairman of the Board, Jefferson W. Kirby controls 2.
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