Allied World Assurance Company Holdings, AG announced that Institutional Shareholder Services (ISS), an independent proxy advisory service, has “issued a report recommending that shareholders of Allied World vote in favor of all of the proposals associated with the merger with …
Reinsurer Validus Holdings increased the pressure on its target Transatlantic Holdings Wednesday, filing paperwork with regulators to ultimately replace Transatlantic’s board of directors. Transatlantic shareholders are due to vote next Tuesday on an all-stock offer from Allied World, which three …
Standard & Poor’s Ratings Services has removed both Transatlantic Holdings and Allied World Assurance Co. Holdings AG from its CreditWatch Positive, where they were placed on June 13, following the announcement of their merger agreement. S&P’s long-term counterparty credit rating …
Allied World Assurance Company Holdings, AG has announced “significant new merger-related synergies that can be achieved through the combination with Transatlantic Holdings, Inc.” The company said it “now estimates an annual run rate of over $160 million in synergies, an …
The largest shareholder in reinsurer Transatlantic Holdings Inc will oppose the company’s acquisition by Allied World, opening the door to two other suitors. Davis Selected Advisers, which owns 23.6 percent of Transatlantic, previously said it might oppose the deal, which …
Transatlantic Holdings opened talks with a unit of Warren Buffett’s Berkshire Hathaway on Friday over a $3.2 billion takeover offer, adding a new twist in the battle for the reinsurer. The Berkshire unit, National Indemnity, entered into a confidentiality agreement …
The three-way bidding war for reinsurer Transatlantic Holdings grew more complicated Thursday as hostile suitor Validus Holdings sued the company, but also offered to open its own books for review. The dual moves were designed to raise the pressure on …
The spread between two of the dueling offers for reinsurer Transatlantic Holdings virtually disappeared Wednesday amid a fresh market rout, as deal-watchers waited for any sign as to what late entrant Berkshire Hathaway might do next. As of 12:20 p.m. …
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 …
Warren Buffett’s entry into the bidding for Transatlantic Holdings is drawing fresh attention to the reinsurance industry, which specializes in writing insurance for insurers in a way that frees up those companies to take on more risk. With cheap valuations …
