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Alleghany Corporation Stockholders Approve Acquisition By Berkshire Hathaway

Alleghany Corporation Stockholders Approve Acquisition By Berkshire Hathaway | Fintech Finance

Alleghany Corporation today announced that its stockholders voted to approve and adopt the Agreement and Plan of Merger, dated as of March 20, 2022, pursuant to which Alleghany will be acquired by Berkshire Hathaway for $848.02 per share of common stock in cash.

“We are pleased our stockholders have overwhelmingly voted to support this compelling transaction, which delivers significant value to them. I want to personally thank Alleghany’s employees for their contributions and continued dedication that have made this achievement possible,” said Joseph P. Brandon, Alleghany’s President and Chief Executive Officer. “Alleghany looks forward to further building on its success as part of Berkshire Hathaway.”

During the special meeting of stockholders held today, approximately 84% of Alleghany’s outstanding common shares, and more than 98% of the votes cast, voted in favor of the merger proposal. The final voting results at the special meeting will be set forth in a Current Report on Form 8-K to be filed by Alleghany with the U.S. Securities and Exchange Commission.

In addition to the approval today by Alleghany stockholders, the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act expired in early May.  The transaction is expected to close in the fourth quarter of 2022, subject to customary closing conditions and regulatory approvals.

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