Report: Validus and Ariel End Merger Talks
Bermuda based re/insurers Validus Holdings Ltd. and Ariel Reinsurance Co. ended merger talks this month after disasters in Japan roiled insurance markets, Bloomberg reported today [Mar.29]
The report said, “Validus had been close to an almost $1 billion stock-and- cash deal for Ariel, owned by private-equity firms including Blackstone Group LP (BX), said the people, who spoke on condition of anonymity because the talks are private. Potential losses stemming from Japan’s earthquake meant that reaching a deal would take more time and effort than previously anticipated, contributing to a breakdown in talks, the people said.”
