Bermuda-based Validus Holdings, Ltd. announced the capitalization of PαCRe, Ltd., a new Class 4 reinsurer. “PαCRe has been formed to combine the attractive returns available from underwriting top layer reinsurance programs with a long term approach to asset management,” said …
Reinsurer Validus Holdings Monday withdrew its offer for peer Transatlantic Holdings, ending a months-long hostile takeover battle. Validus, which has a history of hostile bids for other reinsurers, launched its offer in July, attempting to break up a deal Transatlantic …
The ongoing battle between Validus Holdings and Transatlantic is heating up again, as Validus announced a series of moves aimed at convincing Transatlantic’s shareholders to accept its merger offer. On November 3, it amended its prior offer. On Nov. 4 …
Bermuda-based reinsurer Transatlantic Holdings Inc , which has been at the center of a months-long buyout battle, said it entered talks and signed a confidentiality agreement with a fourth, unnamed, suitor. Transatlantic is already in discussions with Validus Holdings Ltd., …
Transatlantic Holdings said Monday it has entered into deal talks with an undisclosed bidder, adding a fresh twist in a months-long takeover saga and sending the reinsurer’s shares up sharply. For nearly four months, Transatlantic has been the subject of …
After rejecting offers from both Allied World Assurance and Berkshire Hathaway’s National Indemnity, Transatlantic Holdings has opened the door to another formerly rejected suitor, Validus Holdings, Ltd. The two companies have entered into a confidentiality agreement with, which paves the …
Reinsurer Transatlantic Holdings Inc said it received a renewed buyout offer of $52 a share in cash from Warren Buffett’s Berkshire Hathaway Inc but said the bid was too low. Transatlantic and Allied World Assurance Co Holdings Ltd called off …
Reinsurers Allied World Assurance Co. Holdings Ltd and Transatlantic Holdings Inc. called off their merger Friday in the face of overwhelming opposition, leaving Transatlantic to decide between two larger, unsolicited offers. Allied World said in a statement it would receive …
Reinsurer Validus Holdings increased the pressure on its target Transatlantic Holdings Wednesday, filing paperwork with regulators to ultimately replace Transatlantic’s board of directors. Transatlantic shareholders are due to vote next Tuesday on an all-stock offer from Allied World, which three …
