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Warren Buffett to Buy Alleghany for $11.6 Billion in Return to Dealmaking

  • Berkshire will pay $848.02 per share in cash for insurer
  • Alleghany’s deal terms include a ‘go-shop’ period for 25 days
Updated on

Berkshire Hathaway Inc. is buying Alleghany Corp. for $11.6 billion in cash as Warren Buffett returns to the dealmaking he has shied away from in recent years.

Buffett’s company will acquire all outstanding Alleghany shares for $848.02 each in cash. The transaction represents a 29% premium to the New York-based insurer’s average stock price over the last 30 days, and a 16% premium to its 52-week high closing price, the firms said in a statement Monday.