The head of Berkshire Hathaway is considered a star investor.
(Photo: AP)
Bangalore Warren Buffett has held back for a long time, but the US star investor is striking: his conglomerate Berkshire Hathaway wants to take over the US insurance holding company Alleghany Corporation for 11.6 billion dollars. Berkshire is offering shareholders $848.02 per share, the company said. The offer is thus more than a quarter above the Friday closing price.
The deal is Berkshire’s largest since acquiring Precision Castparts in 2016, according to data compiled by Bloomberg. The acquisition at the time was valued at $37.2 billion, including debt.
The news was well received by the stock exchange: Alleghany’s price shot up by around 25 percent to around $850 at the start of trading on Monday. Berkshire stock is up about 1 percent.
Read on now
Get access to this and every other article in the
Web and in our app free of charge for 4 weeks.
further
Read on now
Get access to this and every other article in the
Web and in our app free of charge for 4 weeks.
further