Insight and Intelligence on the London & International Insurance Markets

25 February 2018

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AIG to buy Validus for $5.56bn

Bernard Goyder 22 January 2018

AIG has agreed to acquire Bermudian carrier Validus in a $5.56bn deal.

Validus shareholders are being offered $68.00 per share, 45.5 percent more than the target's closing share price on Friday (19 January). The price also represents a generous multiple of 1.53 times Validus' book value per share of $44.51 as of the end of the third quarter.

The transaction marks AIG's return to M&A after CEO Brian Duperreault made clear he planned expansion rather than retrenchment when he took...

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