NU Online News Service, Nov. 7, 3:47 p.m. EST

The sparring between Transatlantic Holdings and Validus Holdings over the latter's bid to acquire the former continues with Validus criticizing an investor presentation by Transatlantic's board explaining why shareholders should reject Validus' latest offer.

On Nov. 4, Transatlantic's board said in an investor presentation that Validus' offer does not deliver “full and fair value to Transatlantic stockholders” and that it “presents serious strategic and execution risks—you [shareholders] are asked to share them.”

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