March 21, 2022

Bob Denham, Brett Rodda and Jennifer Broder Lead Munger, Tolles & Olson Team Advising Berkshire Hathaway in its $11.6 Billion Deal to Buy Alleghany

Corporate Lawyers at Munger, Tolles & Olson LLP advised Berkshire Hathaway in its agreement to acquire insurer Alleghany Corp. for $11.6 billion in cash. 

Under the definitive agreement announced March 21, Berkshire will acquire Alleghany’s outstanding shares for $848.02 per share, a 29% premium to the company’s average stock price over the last month.

Corporate partners Robert E. Denham, Brett J. Rodda, Jennifer M. Broder and Tyler Hilton, of counsel Michael E. Greaney and associate Steven B.R. Levick contributed to the deal alongside Tax partner David B. Goldman and associate Samir Halawi, and Executive Compensation partner Matthew S. Schonholz.

The transaction is expected to close in the fourth quarter of 2022. 

“Berkshire will be the perfect permanent home for Alleghany, a company that I have closely observed for 60 years. Throughout 85 years the Kirby family has created a business that has many similarities to Berkshire Hathaway. I am particularly delighted that I will once again work together with my long-time friend, Joe Brandon,” Warren E. Buffett, Berkshire Hathaway’s chairman and chief executive officer, said in Alleghany’s press release.

Munger Tolles has advised Berkshire Hathaway in connection with its biggest transactions, including the landmark acquisition of Burlington Northern Santa Fe Corp. for $44 billion, the $9.7 billion acquisition of The Lubrizol Corporation, and its investments in both Goldman Sachs and Bank of America for a total of $10 billion, among many others.

Click here to read the Berkshire Hathaway press release about the transaction.