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Berkshire Hathaway to Buy Reinsurer Alleghany for $11.6 Billion
Warren Buffett’s Berkshire Hathaway agreed to buy Alleghany shares for $848.02 a share in cash, or a total equity value of about $11.6 billion. The deal represents a 29% premium to Alleghany’s average stock price over the last 30 days, the companies said in a statement. Shares of Alleghany, the property-and-casualty reinsurance company, closed Friday at $676.75.
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