Alleghany Corp is nearing a deal to purchase reinsurer Transatlantic Holdings Inc for about $3.4 billion, a source familiar with the matter said. Alleghany is expected to pay $59 per share to $60 per share in cash and stock for Transatlantic, the source said.Former Berkshire Hathaway insurance executive Joseph Brandon is expected to join Alleghany's management team as part of the deal, the source said.Brandon had earlier been working with Morgan Stanley on a possible bid.The deal, which was previously reported by Bloomberg, is expected to be announced on Monday.
Berkshire Hathaway Inc. (Berkshire) is a holding company owning subsidiaries engaged in a number of diverse business activities. Shares of BRK-A traded higher by 1.07% or $1190.0/share to $112890.00. In the past year, the shares have traded as low as $98952.00 and as high as $131463.00. On average, 69772 shares of BRK-A exchange hands on a given day and today's volume is recorded at 605.
Berkshire Hathaway Inc. (Berkshire) is a holding company owning subsidiaries engaged in a number of diverse business activities. Shares of BRK-B traded higher by 1.44% or $1.07/share to $75.37. In the past year, the shares have traded as low as $65.35 and as high as $87.65. On average, 7701320 shares of BRK-B exchange hands on a given day and today's volume is recorded at 5781408.
Morgan Stanley is a global financial services firm that, through its subsidiaries and affiliates, provides its products and services to a group of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS traded higher by 0.57% or $0.08/share to $14.21. In the past year, the shares have traded as low as $12.36 and as high as $31.04. On average, 28129900 shares of MS exchange hands on a given day and today's volume is recorded at 28199884.
Transatlantic Holdings, Inc. (TRH) is a holding company. Shares of TRH traded higher by 1.19% or $0.64/share to $54.43. In the past year, the shares have traded as low as $43.85 and as high as $54.08. On average, 1087640 shares of TRH exchange hands on a given day and today's volume is recorded at 335404.
Alleghany Corporation is engaged, through Alleghany Insurance Holdings LLC (AIHL) and its subsidiaries RSUI Group, Inc. Shares of Y traded higher by 0.57% or $1.79/share to $314.26. In the past year, the shares have traded as low as $278.74 and as high as $342.71. On average, 16470 shares of Y exchange hands on a given day and today's volume is recorded at 6519.
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