Alleghany Corporation Makes Announcement.Business Editors NEW YORK--(BUSINESS WIRE)--Feb. 1, 2001 Alleghany Corporation (NYSE-Y) announced today the completion of the merger of its financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. operating unit operating unit A type of operating company that engages in transactions with outsiders and that is owned by another business. For example, in 1995 the stockholders of Capital Cities/ABC approved a $19 billion merger with the Walt Disney Company, whereupon Alleghany Asset Management, Inc. with a subsidiary of ABN AMRO ABN AMRO Algemene Bank Nederland-Amsterdam Roterdam Bank (Dutch bank) North America Holding Company. Alleghany Corporation received $825 million in cash proceeds, and expects to report an after-tax gain on the sale in excess of $65 per share of Alleghany common stock. Alleghany Corporation is engaged through its subsidiaries, Alleghany Underwriting Holdings Ltd, World Minerals Inc. and Heads and Threads International LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , in the businesses of global insurance and reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. , industrial minerals and industrial fasteners. This press release contains forward-looking statements with respect to the anticipated effects of the transaction. Actual results of the transaction could be significantly different. Factors that could affect results include those set forth in filings made by Alleghany with the Securities and Exchange Commission. Although forward-looking statements help to provide complete information about future prospects, readers should keep in mind that forward-looking statements are much less reliable than historical information. |
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