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Warren Buffett’s Berkshire Hathaway snaps up Alleghany in $11.6bn deal to bolster insurance arm
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Berkshire Hathaway said on 21 March it agreed to buy insurer Alleghany for about $11.6bn in cash in a deal that bolsters the insurance arm of billionaire Warren Buffett’s investment vehicle.
Berkshire said it would pay $848.02 a share for Alleghany, a premium of about 25% to 18 March’s closing price of $676.75 and a multiple of 1.26 times the New York-based company’s book value at the end of 2021.
Berkshire,...
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