By MICHELLE CHAPMAN
AP Enterprise Author
Warren Buffett’s Berkshire Hathaway is shopping for the insurance coverage firm Alleghany in a deal valued at roughly $11.6 billion. The acquisition will increase Berkshire’s already appreciable insurance coverage holdings together with manufacturers like Geico auto insurance coverage. Berkshire stated Monday that it’ll pay $848.02 in money for every excellent share of Alleghany, based mostly in New York Metropolis. It’s going to function as an impartial subsidiary of Berkshire Hathaway after the deal closes. It has 25 days to actively solicit and take into account different acquisition proposals below a “go-shop” provision.