The saga that was the attempted merger of Transatlantic Holdings and Allied World Assurance Co. Holdings has ended with what each are calling a mutual agreement, which makes Transatlantic $48 million lighter.
The saga that was the attempted merger of Transatlantic Holdings and Allied World Assurance Co. Holdings has ended with what each are calling a mutual agreement, which makes Transatlantic $48 million lighter.
Less than a week before shareholders of Transatlantic Holdings are set to vote on a potential merger with Allied World Assurance Co., Validus Holdingsa competing bidderis looking to oust Transatlantics board.
Transatlantic Holdings Inc.s board of directors is not pursuing a value-maximizing strategy and is putting up self-imposed roadblocks to discussions with Validus Holdings, according to a Validus letter to Transatlantic shareholders.
Validus Holdings says it has started to contact shareholders of Transatlantic Holdings by mail to urge them to vote against Transatlantics merger agreement with Allied World Assurance Co. Holdings.