S$11.6 billion.
The all-cash acquisition of Alleghany will expand Berkshire's already considerable insurance holdings, including brands like Geico auto insurance. "This is a highly complimentary and very similar franchise," Shanahan said. "I'm really pleased to see Berkshire putting capital to work in the market." CFRA Research analyst Cathy Seifert said this deal makes sense for both companies because it will provide Alleghany access to Berkshire's massive capital reserves while expanding insurance and reinsurance operations at Buffett's company at time when the growth prospects for those companies are good.
The deal announcement comes after Buffett said last month in his annual letter to company investors that he was having difficulty finding worthwhile acquisitions at prices he likes with the valuations on companies soaring.