Alleghany Corp. on June 9 said its stockholders approved and adopted Berkshire Hathaway’s offer to buy the company for $11.6 billion.

“We are pleased our stockholders have overwhelmingly voted to support this compelling transaction, which delivers significant value to them. I want to personally thank Alleghany’s employees for their contributions and continued dedication that have made this achievement possible,” said Joseph P. Brandon, Alleghany’s president and CEO, in a statement. “Alleghany looks forward to further building on its success as part of Berkshire Hathaway.”

About 84 percent of Alleghany’s outstanding common shares, and more than 98 percent of the votes cast, voted in favor of the merger proposal from Warren Buffett’s Berkshire Hathaway, said Alleghany.

In March, Omaha, Neb.-based Berkshire Hathaway entered into an agreement with Alleghany to acquire all outstanding Alleghany shares for $848.02 per share in cash in a transaction unanimously approved by both boards of directors. Berkshire said the acquisition price represents a multiple of 1.26 times Alleghany’s book value at Dec. 31, 2021.

The agreement allowed for a “go-shop” period that allowed Alleghany to attract other bidders. The New York-based P/C said in April that it solicited alternative proposals from dozens of potentially interested companies but it did not receive any competing offers.

The transaction is expected to close in the fourth quarter of 2022, subject to customary closing conditions and regulatory approvals.