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Sean's avatar

Great analysis and very well written. The early March Alleghany share purchases by Joe Brandon might raise a few eyebrows but that can be cleared up easy enough once we find out when the negotiations with Berkshire transpired. I hope the acquisition goes through and Buffett and Ajit start working their compounding magic.

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The Rational Walk's avatar

Andrew Bary of Barron's thinks a bidding war for Alleghany could soon erupt, naming Markel among others as potential suitors. The fact that there is no break-up fee effectively gives Alleghany a free put option at $848.02 while they "go shop". It is unusual that Buffett did not put a break-up fee into the deal. https://www.barrons.com/articles/watch-out-warren-buffett-a-bidding-war-for-insurer-alleghany-could-erupt-51648222639

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