Alleghany Corporation Announces End of "Go-Shop" Period
During the go-shop period, Alleghany and its financial advisor solicited alternative acquisition proposals from 31 potentially interested third parties. Despite these efforts, Alleghany did not receive any alternative acquisition proposals. Following the expiration of the "go-shop", Alleghany became bound by customary "no-shop" restrictions under the definitive merger agreement that limit its and its representatives' ability to initiate, solicit or engage in discussions or negotiations regarding alternative acquisition proposals from third parties, except as otherwise permitted by the agreement, subject to compliance by Alleghany's Board of Directors with its fiduciary duties. There is no termination fee payable in the event of any termination of the merger agreement.
The transaction is expected to close in the fourth quarter of 2022, subject to customary closing conditions, including approval by Alleghany stockholders and receipt of regulatory approvals.
About Alleghany
Forward-looking Statements
This release contains disclosures, which may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.
Various forward-looking statements in this release relate to the acquisition by
Additional risks and uncertainties are discussed in Alleghany's Annual Report on Form 10-K for the year-ended
Important Additional Information and Where to Find It
In connection with the transaction with
ALLEGHANY'S STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE
Investors and security holders may obtain, free of charge, copies of the proxy statement (when it is available) and other documents that are filed or will be filed with the
Participants in the Solicitation
Alleghany and certain of its directors, executive officers and other employees may be deemed to be participants in the solicitation of proxies from Alleghany's stockholders in connection with the transaction. Additional information regarding the identity of the participants, and their respective direct and indirect interests in the transaction, by security holdings or otherwise, will be set forth in the proxy statement and other materials to be filed with the
Contacts
Investors
212-752-1356
[email protected]
Media
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