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Allied World President and CEO called National Indemnity’s offer “at best, opportunistic and seeks to acquire Transatlantic for cash at a significant discount to book value."

NU Online News Service, Aug. 9, 11:11 a.m. EST

Transatlantic Holdings says the acquisition proposal it received from Berkshire Hathaway subsidiary National Indemnity Co. is not better than the merger agreement it has in place with Allied World Assurance Co. Holdings.

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