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June 10, 2022

Alleghany shareholders approve $11.6bn merger with Berkshire Hathaway

Alleghany has received shareholder approval for its takeover by billionaire investor Warren Buffett-backed Berkshire Hathaway. 

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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
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  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
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Berkshire Hathaway agreed to acquire Alleghany in an all-cash transaction valued at around $11.6bn in March this year.

As per the agreement, Berkshire Hathaway will buy all outstanding shares of Alleghany for $848.02 apiece.

During the special shareholder meeting, around 84% of Alleghany’s outstanding common shares, and over 98% of the votes cast, voted in favour of the merger proposal, the firm said.

Alleghany, which is based in New York, offers property and casualty insurance and reinsurance services via its operating subsidiaries. 

Its subsidiaries include Transatlantic Holdings, RSUI Group, and CapSpecialty.

Transatlantic offers reinsurance services across the globe, RSUI Group is engaged in underwriting wholesale speciality insurance policies and CapSpecialty is focused on underwriting speciality casualty and surety insurance coverages.

Alleghany president and CEO Joseph Brandon said: “We are pleased our stockholders have overwhelmingly voted to support this compelling transaction, which delivers significant value to them. 

“Alleghany looks forward to further building on its success as part of Berkshire Hathaway.”

The multi-billion-dollar deal is yet to receive regulatory approval and is subject to customary closing conditions. 

Upon the deal completion, which is anticipated to happen in the fourth quarter of 2022, Alleghany will operate as an independent subsidiary of Berkshire Hathaway.

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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