The Clap
Less than a month after Berkshire Hathaway announced an $11.6 billion deal to acquire insurance firm Alleghany Corp (NYSE: Y), one Alleghany shareholder is attempting to block the deal.
Why?
The shareholder believes that one Alleghany disclosure failed to adequately explain why this deal would be beneficial to shareholders. This, therefore, leaves her in a position where she’s “unable to make a fully-informed decision” & is “threatened with irreparable harm.”
Why this matters
The plaintiff is suing Alleghany in an attempt to block the deal unless further disclosures are announced. Earlier this month, the plaintiff also sued to block Alphabet’s acquisition of Mandiant, citing the same reason as the Alleghany case.
