Hashtag: #BusinessMergers
Validus Responds To Transatlantic Holdings
Bermuda based Validus Holdings, Ltd. today [July 20] responded to yesterday’s announcement by the Board of Directors of Transatlantic Holdings, Inc. A Validus spokesperson said, “Validus has delivered to the Board of Directors of Transatlantic a Superior Proposal that provides a 27.1% premium to the June 10, 2011 Transatlantic unaffected... Read more of this article
Allied World Committed to Transatlantic Merger
Allied World Assurance Company Holdings today [July 18] affirmed that it remains fully committed to the terms of the merger with Transatlantic Holdings, Inc., which it believes provides the best value for all shareholders and the best prospects for long-term growth. Allied World Chairman, President & Chief Executive Officer, Scott Carmilani, stated,... Read more of this article
Validus Announces Transatlantic Merger Proposal
Bermuda based Validus Holdings Ltd., Tuesday [July 12] announced that it has delivered to the Board of Directors of Transatlantic Holdings, Inc. a proposal to merge the businesses of Validus and Transatlantic. Pursuant to the proposal, Transatlantic stockholders would receive 1.5564 Validus voting common shares in the merger and $8.00 in cash per share... Read more of this article
Enstar Group Subsidiary Completes Acquisition
Enstar Group Limited announced today that one of its wholly-owned subsidiaries has completed the previously announced acquisition of Clarendon National Insurance Company from an affiliate of Hannover Re. Clarendon National is a New Jersey-domiciled insurer that is in run-off. Clarendon National owns three other insurers, two domiciled in New Jersey... Read more of this article
Allied World, Transatlantic Agree to Merge
Transatlantic Holdings, Inc. and Allied World Assurance Company Holdings, AG yesterday [June 12] announced the signing of a definitive merger agreement that will create a leading, global specialty insurance and reinsurance company. The combined entity will have total invested assets of $21 billion, total shareholders’ equity of nearly $7 billion,... Read more of this article
Videos: Newly Merged CellOne Opens Doors
Today [May 16] the new CellOne retail store officially opened on #18 Church Street in Hamilton, two weeks after the announcement that M3 Wireless will be merging with CellularOne. The new company is keeping the pre-existing CellularOne management team and will operate under the CellularOne brand, although it has been rebranded slightly as CellOne,... Read more of this article
Capital G Acquires Orion Investment
Capital G Investments Limited announced today [May 3] the 100% acquisition of the issued share capital of Orion Investment Management Limited. Orion, a Bermuda based investment management boutique, was founded in 2006 and currently consists of four investment professionals – Mr. Eric Hirschberg, CEO, Mr. Andrew Marsh, Chief Investment Officer, Dr.... Read more of this article
Video: M3 Wireless Merges With CellularOne
[Updated with video] Ending the speculation that has been swirling, this morning [May 3] it has been confirmed that M3 Wireless has merged with CellularOne. CellularOne is an operating subsidiary of US company Atlantic Tele-Network, while M3 Wireless is part of the KeyTech Group of companies. Both companies are unofficially reported to have called staff... Read more of this article
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... Read more of this article
Digicel Acquires Netxar Technologies
Digicel has taken a controlling stake in Netxar Technologies, the leading systems integrator in the Caribbean region, it was announced today [Feb 8]. Netxar is also the holder of the Gold Certification, Master Unified Communication and Master Managed Service Partner and is a member of Cisco’s elite 1% partners out of 64,000+ partners worldwide –... Read more of this article
ACE Acquires NY Life’s Operations in Korea
ACE Limited announced yesterday [Feb 1] that it has completed its acquisition of New York Life’s Korea operations for approximately $75 million in cash. The original October 2010 purchase agreement with New York Life was amended to allow for separate closings for the Korea and Hong Kong operations. The Hong Kong portion of the transaction is expected... Read more of this article
First Bermuda Group & Capital G Merge
Capital G Bank Limited and First Bermuda Group Ltd. today [Jan 4] announced the formal amalgamation of the two Bermuda financial institutions. The agreement to amalgamate was signed on December 21, 2010 and subsequently approved by the FBG shareholders on December 30, 2010, creating Bermuda’s largest privately-held full service bank and deposit... Read more of this article
