Berkshire set to exit Transatlantic race with $52 a share ultimatum
Berkshire Hathaway has issued a 'take it or leave it' ultimatum with a deadline of close of business today (19 September) on its $52 a share cash offer for Transatlantic Re.
With Transatlantic already indicating that the offer "simply would not deliver fair value to its stockholders" the development looks likely to see the Warren Buffett-headed investment giant exit the scene leaving Validus as sole suitor for the US reinsurer.
In a letter to Transatlantic CEO Robert Orlich, president of...
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