Alleghany Corporation announces end of “Go-Shop” period

Alleghany Corporation announced the end of the “go-shop” period under the previously announced definitive merger agreement with Berkshire Hathaway Inc. Under the terms of the agreement, Alleghany and its representatives were permitted to solicit and consider alternative acquisition proposals from third parties until April 14, 2022.

During the go-shop period, Alleghany and its financial advisor solicited alternative acquisition proposals from 31 potentially interested third parties. Despite these efforts, Alleghany did not receive any alternative acquisition proposals. Following the expiration of the “go-shop”, Alleghany became bound by customary “no-shop” restrictions under the definitive merger agreement that limit its and its representatives’ ability to initiate, solicit or engage in discussions or negotiations regarding alternative acquisition proposals from third parties, except as otherwise permitted by the agreement, subject to compliance by Alleghany’s Board of Directors with its fiduciary duties. There is no termination fee payable in the event of any termination of the merger agreement.

The transaction is expected to close in the fourth quarter of 2022, subject to customary closing conditions, including approval by Alleghany stockholders and receipt of regulatory approvals.