Skip to Content
AP National Business

Berkshire’s $11.6B deal for Alleghany expands insurance wing

<i></i><br/>
KMIZ

By
Published 6:20 AM

By MICHELLE CHAPMAN
AP Business Writer

Warren Buffett’s Berkshire Hathaway is buying the insurance company Alleghany in a deal valued at approximately $11.6 billion. The acquisition will expand Berkshire’s already considerable insurance holdings including brands like Geico auto insurance. Berkshire said Monday that it will pay $848.02 in cash for each outstanding share of Alleghany, based in New York City. It will  operate as an independent subsidiary of Berkshire Hathaway after the deal closes. It has 25 days to actively solicit and consider alternative acquisition proposals under a “go-shop” provision. 

Article Topic Follows: AP National Business

Jump to comments ↓

Associated Press

BE PART OF THE CONVERSATION

ABC 17 News is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content