Alleghany's 'Go-Shop' Period Regarding Merger Deal With Berkshire Hathaway Ends

(RTTNews) - Alleghany Corporation (Y), an investment holding firm, on Monday announced the end of the "go-shop" period under the previously declared $11.6 billion merger deal with Warren Buffett's Berkshire Hathaway Inc.

According to the agreement, Alleghany agreed to be acquired by Berkshire Hathaway. Alleghany was also allowed to solicit and consider alternative acquisition proposals (go-shop) from third parties until April 14.

During the period, Alleghany solicited acquisition proposals from 31 potentially interested third parties. However, the company did not receive any.

Now, the acquisition deal with Berkshire Hathaway is expected to close in the fourth quarter of 2022.