Y Alleghany Corp

By Colin Kellaher

Alleghany Corp. on Monday said the 25-day "go-shop" period under its $11.6 billion deal to be acquired by Berkshire Hathaway Inc. has expired with no new bids emerging.

The New York insurer said it solicited alternative acquisition proposals from 31 potentially interested buyers, but that it didn't receive any offers.

Alleghany, which last month agreed to be acquired for Berkshire for $848.02 a share in cash, said it expects the transaction with billionaire Warren Buffett's investment vehicle to close by the end of the year.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

April 18, 2022 08:31 ET (12:31 GMT)

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