Platinum Shareholders Approve RenRe Deal
Platinum Underwriters Holdings, Ltd. announced that at a special general meeting of shareholders held earlier today [Feb 27], all proposals related to the Company’s pending acquisition by RenaissanceRe Holdings Ltd. were overwhelmingly approved by the Company’s shareholders.
“I’d like to thank our shareholders for their support of this transaction, which we believe will deliver them significant value as well as benefit our clients and brokers,” said Michael D. Price, President and Chief Executive Officer of Platinum.
The transaction is expected to close on March 2, 2015. As previously announced, prior to the effective time of the merger on March 2, 2015, Platinum will be paying a special dividend of $10.00 per Platinum common share to shareholders of record as of close of business today.
