![]() “I’m really pleased to see Berkshire putting capital to work in the market.”īerkshire will pay $848.02 in cash for each outstanding share of Alleghany Corp., the company said Monday. “This is a highly complimentary and very similar franchise,” Shanahan said. Edward Jones analyst Jim Shanahan said nearly one-third of Alleghany’s revenue came from those operating companies and its investments last year. “Throughout 85 years the Kirby family has created a business that has many similarities to Berkshire Hathaway.”Īlleghany’s core businesses are in property and casualty reinsurance and insurance, but like Berkshire, it also owns several other businesses, including a steel fabricator and a toy company, and manages an investment portfolio. ![]() “Berkshire will be the perfect permanent home for Alleghany, a company that I have closely observed for 60 years,” Buffett said in a prepared statement Monday. The all-cash acquisition of Alleghany will expand Berkshire’s already considerable insurance holdings, including brands like Geico auto insurance. ![]() ![]() That was on top of the more than $6 billion Berkshire spent acquiring shares of the oil producer over the past month. The Omaha, Nebraska, company revealed last week that it had compiled a 14.6 stake in Occidental Petroleum, snapping up an additional $1 billion worth of shares just between Monday and Wednesday. ![]()
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