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“We strongly urge Transatlantic stockholders to reject Validus’ inferior and highly conditional exchange offer,” says Richard S. Press, chairman of the Transatlantic’s board, in a statement.

NU Online News Service, July 28, 12:09 p.m. EST

Transatlantic Holdings Inc. is urging stockholders to reject a $3.5 billion unsolicited merger offer from Validus Holdings Ltd.

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