{"id":18938,"date":"2022-03-21T08:13:05","date_gmt":"2022-03-21T15:13:05","guid":{"rendered":"https:\/\/marketdepth.com\/?p=18938"},"modified":"2022-03-21T08:17:09","modified_gmt":"2022-03-21T15:17:09","slug":"berkshire-hathaway-is-acquiring-insurance-company-alleghany","status":"publish","type":"post","link":"https:\/\/marketdepth.com\/berkshire-hathaway-is-acquiring-insurance-company-alleghany\/","title":{"rendered":"Berkshire Hathaway is Acquiring Insurance Company Alleghany"},"content":{"rendered":"\n

Warren Buffett\u2019s holding company, Berkshire Hathaway (NYSE: BRK.A)<\/strong>, is acquiring insurance company Alleghany for a total of USD11.6 Billion or USD848.02 per share, in cash. According to the company, the deal \u201crepresents a multiple of 1.26 times Alleghany\u2019s book value at December 31, 2021,\u201d and a 16% premium to Alleghany\u2019s average stock price in the last 30 days. The deal is anticipated to close within the fourth quarter of 2022.<\/p>\n\n\n\n

Stock Up Premarket<\/h5>\n\n\n\n

Alleghany shares skyrocketed over 15% during premarket trading upon the news of the upcoming acquisition.<\/p>\n\n\n\n

“Berkshire will be the perfect permanent home for Alleghany, a company that I have closely observed for 60 years. Throughout 85 years the Kirby family has created a business that has many similarities to Berkshire Hathaway.”<\/p>Buffett said in a statement<\/cite><\/blockquote>\n\n\n\n

Insurance is one of Berkshire\u2019s main businesses, as it already owns Geico auto insurance, General RE reinsurance among others, which have been incentivizing growth within recent years.<\/p>\n\n\n\n

\u201cterrific transaction for Alleghany\u2019s owners, businesses, customers, and employees. The value of this transaction reflects the quality of our franchises and is the product of the hard work, persistence, and determination of the Alleghany team over decades.”<\/p>Alleghany CEO Joseph Brandon<\/cite><\/blockquote>\n\n\n\n

Alleghany is being advised by Goldman Sachs as well as Wilkie Farr & Gallagher throughout the transaction.<\/p>\n","protected":false},"excerpt":{"rendered":"Warren Buffett\u2019s holding company, Berkshire Hathaway (NYSE: BRK.A), is acquiring insurance company Alleghany for a total of USD11.6 Billion or USD848.02 per share, in cash. According to the company, the deal \u201crepresents a multiple of 1.26 times Alleghany\u2019s book value at December 31, 2021,\u201d and a 16% premium to Alleghany\u2019s average stock price in the… View Article<\/a>","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"pmpro_default_level":0,"footnotes":""},"categories":[10,31,11,16],"tags":[],"acf":[],"yoast_head":"\nBerkshire Hathaway is Acquiring Insurance Company Alleghany - MarketDepth<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/marketdepth.com\/berkshire-hathaway-is-acquiring-insurance-company-alleghany\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Berkshire Hathaway is Acquiring Insurance Company Alleghany - MarketDepth\" \/>\n<meta property=\"og:description\" content=\"Warren Buffett\u2019s holding company, Berkshire Hathaway (NYSE: BRK.A), is acquiring insurance company Alleghany for a total of USD11.6 Billion or USD848.02 per share, in cash. 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