NU Online News Service, Aug. 22, 1:35 p.m. EST

Validus Holdings says it has started to contact shareholders of Transatlantic Holdings by mail to urge them to vote against Transatlantic's merger agreement with Allied World Assurance Co. Holdings.

Validus claims it has made a “superior offer,” albeit unsolicited, and the company says a vote against the Allied World offer “will send a strong message to the Transatlantic board” that it should “terminate the Allied World acquisition agreement and give proper consideration to other offers that it receives,” says a Validus statement.

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