Berkshire Hathaway acquired General Re Corporation for All-stock merger; consideration of approximately 272,200 Berkshire Class A-equivalent shares (Berkshire's largest transaction at the time), a transaction completed in December 1998, structured as all stock. The deal was a Merger.
General Re Corporation operates in Insurance / reinsurance, is based in Stamford, Connecticut. Berkshire and General Re signed a merger agreement on June 19, 1998, shareholders approved it in September, and the transaction closed on December 21, 1998, with General Re shareholders receiving Berkshire stock equal to roughly 272,200 Class A-equivalent shares. General Re is a global property, casualty, life and health reinsurer, and the deal was the largest in Berkshire's history at the time.
Massive reinsurance franchise generating large investable float.
On June 19, 1998 Berkshire and General Re executed a Merger Agreement and Plan of Merger... The transaction was completed on December 21, 1998. General Re shareholders received merger consideration consisting of approximately 272,200 equivalent Class A shares.Berkshire Hathaway FY1998 10-K, Business / Acquisitions disclosure
Advisory firms were not disclosed for this transaction.