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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): June 17, 1998
Alleghany Corporation
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
1-9371 51-0283071
(Commission File Number) (IRS Employer Identification Number)
375 Park Avenue
New York, New York 10152
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (212) 752-1356
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Item 5. Other Events.
On June 17, 1998, Alleghany Corporation issued the press release
attached hereto as Exhibit 99 and incorporated herein by reference.
Item 7. Financial Statements and Exhibits.
(c) Exhibits. The following exhibits accompany this Report:
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Exhibit Number Exhibit Description
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99 Alleghany Corporation press release
dated June 17, 1998.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
ALLEGHANY CORPORATION
Date: June 18, 1998 By: /s/ Peter R. Sismondo
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Index to Exhibits
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Exhibit Number Description of Exhibit
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99 Alleghany Corporation press release dated June 17,
1998.
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Exhibit 99
Contact:
Alleghany Corporation
R.M. Hart
(212) 752-1356
Chicago Title Corporation
Paul T. Sands, Jr.
(312) 223-5104
FOR IMMEDIATE RELEASE
ALLEGHANY CORPORATION COMPLETES SPIN-OFF OF
CHICAGO TITLE CORPORATION
NEW YORK, NY, June 17, 1998 -- Alleghany Corporation (NYSE-Y) and Chicago
Title Corporation (NYSE-CTZ) today jointly announced the completion of the
spin-off (the "Spin-Off") of Chicago Title Corporation ("Chicago Title") to
Alleghany's stockholders of record as of June 10, 1998.
Chicago Title, through its subsidiaries Chicago Title and Trust Company,
Chicago Title Insurance Company, Security Union Title Insurance Company and
Ticor Title Insurance Company, is one of the nation's largest providers of
title insurance and other related services for residential and commercial real
estate transactions. Chicago Title currently has more than 300 full service
offices and 3,800 policy issuing agents in 49 states, Puerto Rico, the Virgin
Islands, Guam and Canada.
The Spin-Off was effected through a distribution of three shares of
Chicago Title common stock for each share of Alleghany common stock outstanding
on the record date. The Internal Revenue Service has ruled that the Spin-Off
will be tax-free to Alleghany stockholders and to Alleghany.
Alleghany will continue to engage in the property and casualty reinsurance
and insurance, industrial minerals and financial services businesses conducted
by its subsidiaries Underwriters Re Group, Inc., World Minerals Inc. and
Alleghany Asset Management, Inc. Alleghany will also continue to operate a
steel fastener importing and
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distribution business through its Heads and Threads division.
Alleghany beneficially owns approximately 7.43 million shares, or 4.7
percent, of Burlington Northern Santa Fe Corporation, which owns one of the
largest railroad networks in North America, with 34,000 route miles covering 28
states and two Canadian provinces.
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