‘Validantic’ would be property cat reinsurance giant
Any impression that Allied World would succeed in getting its deal with Transatlantic Re done without competition was exploded after market close yesterday when Validus revealed that it had tabled what it called "a superior offer".
In response Transatlantic has issued a holding response and "will carefully consider and evaluate the Validus proposal in due course and will inform Transatlantic stockholders of its position". The firm's board told shareholders to await its recommendation.
Whatever the board's view, the decision that...
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