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Sard Verbinnen & Co. represents Alleghany Corp. as the insurer agrees to be acquired by Warren Buffett’s Berkshire Hathaway via an $11.6B cash deal.
The $848.02 per-share offer is a 16 percent premium to Alleghany’s 52-week high closing stock price.
Alleghany CEO Joe Brandon, a longtime friend of Buffett, called the deal a “terrific transaction for Alleghany’s owners, businesses, customers and employees.”
As part of BH, “each of Alleghany’s businesses will be exceptionally well positioned to serve its clients and achieve its full potential,” he added.
The deal, which is expected to close during the fourth quarter, does feature a 25-day “go-shop” period, in which Alleghany can seek a buyer with a better offer.
SV&C’s Paul Scarpetta, Drew Brown and Warren Rizzi represent Alleghany, which is based in New York.
Edelman handles Viking Holdings, the river and ocean luxury cruise line that plans to raise $1B via an IPO priced in the $21 to $25 per share range.
Teneo is handling the initial public offering of CVC Capital Partners, one of Europe’s largest private equity firms with nearly $200B in assets under management.
Brunswick Group represents Endeavor Group Holdings as it agrees to go private via its acquisition by Silver Lake technology investment firm, which is handled by Edelman Smithfield.
Tod Donhauser, a nine-year veteran of Edelman, has joined H/Advisors Abernathy as managing director and head of its San Francisco office.
Intelligent Group Ltd, a Hong Kong-based financial PR firm, has priced its initial public offering of 1.9M shares at $4, which is the low end of the $4 to $5 range.
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