Key milestones in the battle for Transatlantic, presented in a timeline. Alleghany Corp. and Transatlantic have agreed on a $3.4 billion cash-and-stock deal.
Transatlantic Holdings is to become an independent subsidiary of property and liability insurer Alleghany Corp. under the terms of an agreement valuing Transatlantic at about $3.4 billion.
The sparring between Transatlantic Holdings and Validus Holdings over the latters bid to acquire the former continues with Validus criticizing an investor presentation by Transatlantics board explaining why shareholders should reject Validus latest offer.
The latest offer from Validus Holdings to buy Transatlantic Holdings has been rejectedthe latest chapter in the pursuit of the New York-based international reinsurance company.
Business has picked up in the bidding for Transatlantic Holdings since the New York-based reinsurer and Allied World Assurance called off their proposed merger, as Transatlantic says it has entered into two confidentiality agreements: one with Validus Holdings and one with an undisclosed third party.