Transatlantic Says National Indemnity Offer May Lead to ‘Superior Proposal’

August 9, 2011

Transatlantic Holdings has agreed to discuss National Indemnity Co.’s offer to acquire all of its common stock for $52 per share.

Transatlantic said that the National Indemnity offer does not now constitute a “superior proposal” but that it is “reasonably likely” that it could lead to one.

The company said that it has a fiduciary duty to discuss the proposal with National Indemnity.

Transatlantic previously entered into a merger agreement with Allied World.

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