NU Online News Service, May 15, 2:17 p.m. EDT
The bidding war between Max Capital Group and Validus Holdings over Bermuda-based property-catastrophe reinsurer IPC Re continued this week, with Max announcing its deal has regulators' approvals.
But shareholders must still vote on the deal, and Validus is banking on winning IPC shareholders over directly, against the recommendations of IPC's board.
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