Y Alleghany Corp

By Will Feuer

Berkshire Hathaway Inc. said it has received regulatory approval to move forward with its $11.6 billion buyout of insurance company Alleghany Corp., paving the way for the deal to close next week.

The deal is currently expected to close on Oct. 19, subject to the satisfaction of customary closing conditions, the companies said.

Berkshire, the Omaha, Neb., conglomerate run by Warren Buffett, said in March that it would pay $848.02 a share in cash for Alleghany.

Shares of Alleghany rose 0.6% in after-hours trading to $847.20.

Write to Will Feuer at Will.Feuer@wsj.com

(END) Dow Jones Newswires

October 14, 2022 16:33 ET (20:33 GMT)

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